Average auto loan rates in September 2021

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There is no doubt that buying a car is expensive. The average price of a new car is over $ 36,000, and a used car costs on average over $ 20,000. However, for many buyers, the price of a car doesn’t say everything about what it costs to buy it. Since most people take out a loan to buy a car, the interest rate on their car loan increases the final cost of the car. In fact, the interest rate on a car loan is usually the second most expensive part of buying a car. If you can get a good interest rate for your auto loan, you can save thousands of dollars.

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Auto loan rates in September 2021

Credit score New car loan Used car loan Refinance a car loan

750 or more

6.36%

6.61%

3.32%

700-749

9.20%

9.45%

4.23%

600-699

14.63%

14.88%

7.06%

451-599

17.26%

17.51%

9.56%

450 or less

n / A

n / A

n / A

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