![]() We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues. In general, people with average to above-average credit scores can find interest rates from 3 to 4.5 on 36-month car loans. ![]() That said, 3.5 is a good interest rate for most car loan borrowers. All examples are hypothetical and are for illustrative purposes. The average APR on a new-car loan with a 60-month term was 4.96 in the first quarter of 2021, according to the Federal Reserve. Identifying a good car loan interest rate can be tricky since it depends largely on the individual applicant. When you take out an auto loan, youll be assigned an interest rate that represents the cost to borrow money to pay for. Enter a car price and adjust other factors as needed to see how changes affect your estimated payment. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. Use our auto loan calculator to estimate your monthly car loan payments. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. An auto loan calculator can help you see that you have the option to change not only the total loan amount but also the loan term and your interest rate, giving. The amount you pay each month for your auto financing. ![]() The American Institute of Certified Public Accountants You can choose to calculate the payment or the purchase price.
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