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It’s always a top priority of Murrieta drivers to avoid overpaying on things, and your car is no different. That’s why it’s important to know what is a good interest rate for a car loan, as well as also finding out what is the average interest rate on a car loan for Lake Elsinore drivers. Thankfully we’ve made a chart that breaks down how to get the best interest rates possible, so you no longer have to wonder what is a good car loan rate. You can also count on Temecula Valley Toyota to help you get the auto loan that works best for you, and you can apply for financing online for a used Honda or RAV4.
| Average Credit Score for New Car | Annual Percentage Rate | Average Credit Score for Used Car | Annual Percentage Rate |
| 781-850 | 3.17% | 781-850 | 3.8% |
| 661-780 | 4.03% | 661-780 | 5.48% |
| 601-660 | 6.79% | 601-660 | 10.1% |
| 501-600 | 10.98% | 501-600 | 16.27% |
| 300-500 | 13.76% | 300-500 | 19.32% |
In order to get the best rates possible, the first thing you’ll want to do is plan, plan, and plan some more. Check your credit history, and take note of the score, as obviously the higher the credit score, the lower your interest rate is going to be. You’ll also want to be ready to negotiate with whatever dealership you decide to go to. But what is a good car loan rate? That can range from 3.17% to 13.76% for new, and higher for used cars. Plan the rate that you want, and be willing to negotiate if they offer you a rate that is higher than what you were expecting or prepared for. Also, be aware of the entire deal and not just the payments. One of the keys to getting better than what is the average interest rate on car loans near Menifee, is being able to spot a bad offer.
The average interest rate is around 3 to 4.5% on three-year car loans. This however can differ based on your credit score, as well as the loan provider. Banks are more likely to charge more, and be less flexible than a dealership. At the end of the day, the easiest way to compare your loan and interest rates is by shopping around, or getting pre-approved by multiple lenders and seeing which deal is the best for one for you.
Now that you know what is a good interest for your car loan, it’s time to start shopping for used SUV or used car with AWD. Our expert finance center is ready to help you with the pre-approval process, but also get you behind the wheel of your dream vehicle. Contact us today to compare rates, ask questions, or get any help you need, and our staff is ready to assist.
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