Will Car Loan Interest Rates Go Down In 2025. Current Average Auto Loan Rates by Credit Score The average new car loan rate in September was 9.63%, while the average used car loan rate remained near recent highs at 13.95% According to Edmunds, the average new vehicle loan rate dropped to 6.6% in December 2024, down from a high of 7.6% in October 2023
Interest Rate Rises What It Means for Car Loans [2023 UPDATED] from www.ausloans.com.au
Over the past year, interest rates on both new and used vehicles were on the rise, but recent cuts suggest these rates could fall further Going into 2025, new auto loan interest rates were a full percentage point lower than their peak in early 2024, and used car loan rates decreased by half a percentage point
Interest Rate Rises What It Means for Car Loans [2023 UPDATED]
Expensive vehicles plus high interest rates make securing an affordable auto loan challenging — and rates aren't likely to drop soon. Over the past year, interest rates on both new and used vehicles were on the rise, but recent cuts suggest these rates could fall further Eventually, auto loan rates will go down, but consumers will likely see better deals on new vehicle financing first.
Will Car Interest Rates Go Down In 2025 Margy Saundra. This is largely due to the Federal Reserve's decision to slash its federal funds rate three times in the final months. The next Fed meeting, set for December 17, 2024, could.
Will Mortgage Rates Go Down in 2025? The Answer Is Complicated. The average new car loan rate in September was 9.63%, while the average used car loan rate remained near recent highs at 13.95% So, whether a borrower can afford the vehicle they want may come down to the interest rate they are offered, which largely comes down to the borrower's credit history