What Is A Good Interest Rate On A Car Loan?

Hands Doing Calculations with Calculator


To ensure you are getting a fair deal on your next vehicle based on your credit score, we have provided a helpful chart as well as details on how to get the best interest rate near Apex. Learn more about the average new and used car loans based on credit scores and the APR, or Annual Percentage Rate, for that average. Once you have computed your interest rate, you can begin the vehicle financing process at Hendrick Chevrolet Cary. We make the financing process hassle-free. Get pre-approved from the comfort of home today.

Car Loan Interest Rates

Use the charts below to estimate your new car loan interest rate or used car interest rate. You’ll see that while used vehicles are more affordable than new vehicles, the used car interest rates are higher than new car interest rates—something to consider as you shop around for your next vehicle.

Average New-Car Loan

  • 781-850
  • 661-780
  • 601-660
  • 501-600
  • 300-500

Annual Percentage Rate

  • 3.17%
  • 4.03%
  • 6.79%
  • 10.98%
  • 13.76%

Average Used-Car Loan

  • 781-850
  • 661-780
  • 601-660
  • 501-600
  • 300-600

Annual Percentage Rate

  • 3.8%
  • 5.48%
  • 16.27%
  • 10.1%
  • 19.32%

How Do You Get The Best Car Loan Interest Rate?

Planning ahead is key if you want to get the best car loan interest rate for your new Chevy. It is important to first check your credit score. The higher the credit score, the lower the car interest rates you can secure. You’ll also want to be ready to negotiate. So, what is a good car loan rate for a new vehicle? Based on the chart above, it could be anywhere between 3.17% and 13.76% depending on your credit score.

Remember that once you get your offer, it is still important to pay close attention to the other details of the deal. Once you’re satisfied with your vehicle loan interest rate and you’ve secured an offer that meets your needs and budget, you will be driving home to Raleigh in the vehicle of your dreams in no time!

What Is The Average Interest Rate On A Car Loan?

The average interest rate on a three-year car loan is approximately 3% to 4.5%. However, where you shop for the loan and your credit history could greatly affect this number. Shopping around and getting pre-approved before visiting the dealership helps to ensure that the process goes smoothly and that you are getting a competitive new car loan interest rate in the Charlotte area.

Apply For Financing At Hendrick Chevrolet Cary

At Hendrick Chevrolet Cary, our financial experts are with you every step of the way. We will get you approved and help you secure affordable financing whether you decide to lease or buy your next Chevy vehicle. If you have any questions about the lineup or the financing process, do not hesitate to contact us. We would be glad to assist you.