The Average Auto Loan

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Posted on November 21, 2018 at 22:39 PM

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What Is Average Rate on a Car Loan? |
Average interest rates on car loans vary by region. For example, as of this publication, Texas residents with a credit score in the national average range of 660-689, who obtain a 60-month auto loan, paid an average interest rate of 6.531 percent. Conversely, the same borrower in California paid 6.841 percent on a loan of the same term.
How Long Is the Average Car Loan? - Budgeting Money
The average length of an auto loan stretched to 69.3 months according to Bloomberg, as of 2017, which is 6.8 percent higher than five years ago. Many buyers even push their payment schedule way beyond that, with seven- and eight-year loans becoming more prevalent.
Average New and Used Auto Loan Rates -
Every month, HSH collects the latest information on new and used auto loan rates from lenders in dozens of metropolitan areas around the US. The sampling of averages listed here includes only a few of the areas we survey.

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