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What is a Good Interest Rate For a Car Loan

New Car APR

Credit Score

Used Car APR
3.17%

781-850

3.8%
4.03%

661-780

5.48%
6.79%

601-660

10.1%
10.98%

501-600

16.27%
13.76%

300-500

19.32%

Drivers in Tinley Park who are looking to buy a new car or are thinking of re-financing their current car may be wondering “What is a good interest rate for a car loan?” At Bettenhausen CDJR, we’ve collected all the information you need to make an educated decision on your car loan. To begin, we’ve created this chart to show you how to get the best interest rate with your credit score. Learn more about new and used car loans based on credit scores and the Annual Percentage Rate (APR), for that average in our article below. After you have the answer to “What is a good interest rate for a car loan?”, apply for financing with our finance center!



What is a Good Car Loan Rate?

If you’re wondering what is a good car loan rate in Orland Park, the first thing you need to do is check your credit history. The higher your credit score is, the lower your interest rate will be. You’ll also want to be ready to negotiate your rate with your dealership or lender. Based on the chart above, a good interest rate is anywhere between 3.17% and 13.76% depending on your credit score.

After looking at the chart, plan for the rate you want and be prepared to negotiate if you’re offered something higher than you expected. Another thing to be careful about is the details of the offer. You don’t only want to focus on the payment and ignore the rest of the deal, if you do this, you may end up paying more or not getting the additional features you want for your vehicle.

What is the Average Interest Rate on a Car Loan?

Armed with a plan to get your ideal car loan in Mokena, it’s important to know what the average interest rate on a car loan is. On a three-year car loan, the average interest rate is around 3% to 4.5%. If you are turned down for your preferred interest rate, you may be offered the average interest rate. However, it may be rated differently based on your credit score as well as where you’re getting the loan from. The easiest way to compare your car loans and interest rates is to shop around or get pre-approved from multiple lenders!

Apply For Financing at Bettenhausen CDJR!

Now that you know what a good car loan rate is, it’s time to visit us at Bettenhausen CDJR near New Lenox to get your next car! Our finance center will help you find a plan that works with your budget, and we will work with you to get the lowest interest rate possible for your credit score. Contact us today!

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708-801-3118

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8355 W. 159th Street • Tinley Park, IL 60477

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Bettenhausen CDJR

8355 W. 159th Street Tinley Park, IL

Phone: 708-801-3118

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Phone: 708-263-4829

8355 W. 159th Street Tinley Park, IL

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Phone: 708-263-4829

8355 W. 159th Street Tinley Park, IL

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Phone: 708-928-5598

8355 W. 159th Street Tinley Park, IL

Mobile Sales

Phone: 708-928-5598

8355 W. 159th Street Tinley Park, IL

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Phone: 708-580-7103

8355 W. 159th Street Tinley Park, IL

Mobile Service

Phone: 708-580-7103

8355 W. 159th Street Tinley Park, IL
41.6012094 -87.8228793
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Bettenhausen CDJR
Bettenhausen CDJR
8355 W. 159th Street
Tinley Park, IL, 60477 US
708-801-3118
https://di-uploads-development.dealerinspire.com/bettenhausencdjr/uploads/2017/12/BettenhausenCDJRFiatOGImage.png
Bettenhausen CDJR 41.6012094, -87.8228793.