What is a Good Interest Rate for Your Car Loan?

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Many drivers in and around the Bensalem, PA area are looking for the best possible interest rate when purchasing a new INFINITI vehicle. While keeping your score in mind, the finance team at Flemington INFINITI has created a chart that breaks down how to get the best interest rate. Learn more about average new and used car loans based on the credit score and APR (Annual Percentage Rate) for that average. Feel free to reach out to the finance team with any questions.

New and Used Car APR

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%

How Do You Get the Best Interest Rate?

If you are wondering how to obtain the best possible interest rates, it’s good to take a look at your credit history to see what the score is. The higher your credit score, the lower your interest rate will be. If your score is not the best, be prepared to negotiate. What is a good car loan rate? Look at the chart. It can be anywhere between 3.17% and 13.76%, depending on what your credit score is.

Next, you will want to plan the rate you want and be fully ready to negotiate if you get offered something higher than expected. But be careful, because you don’t just want to focus on the payment and ignore the rest of the deal. Always pay close attention to the details.

What is the Average Interest Rate on a Car Loan?

The average interest rate on a three-year car loan is around 3% to 4.5%. However, you may be offered different rates based on where your credit score is at. You can either compare your car loans and interest rates by shopping around or by getting pre-approved and see what kind of rates you get that way.

Apply for Financing at Flemington INFINITI

Now that you know what is a good interest rate for a car loan, it’s time to get behind the wheel of your dream INFINITI vehicle. Our finance department is here to help you get through the pre-approval process and get you behind the wheel of your dream vehicle at an unbeatable interest rate. We can even walk you through the process of insuring used cars or new vehicles!  Contact us with any questions, to compare rates, or to schedule a test drive.

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204 US Highway 202 • Flemington, NJ 08822

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Flemington INFINITI 40.4852211, -74.8625526.