What is a Good Interest Rate for Your Car Loan?

Hands Doing Calculations with Calculator

What is a good interest rate for your car loan? To provide you with a better understanding of interest rates, you’ll find a chart below detailing interest rates based on your credit score and if you’re buying a new or used vehicle. Review our chart, and then learn how to qualify for a better interest rate with Western Motors Fresno’s finance center near Visalia. 

Average Interest Rates on New & Used Car Loans

Average Credit Score for New Car

Annual Percentage Rate

Average Credit Score for Used Car

Annual Percentage Rate

781-850

3.17%

781-850

3.8%

661-780

4.03%

661-780

5.48%

601-660

6.79%

601-660

10.1%

501-600

10.98%

501-600

16.27%

300-500

13.76%

300-500

19.32%

Ways to Get Better Interest Rates

Planning ahead can go a long way to help you secure a good interest rate in Madera. Start by checking your credit history and noting your credit score. A higher credit score is going to translate to a lower interest rate. Using your credit score, check the chart above so you can be prepared to negotiate if they offer you a rate beyond what you’re prepared to pay. 

While reviewing your offer, make sure you closely review all the details of your loan. While the interest rate is important, it’s not the only factor worth paying attention to. 

What is the Average Interest Rate on a Car Loan?

The average interest rate is between 3% and 4.5% for a three-year auto loan. However, that may not be what you’re offered— it will ultimately depend on your credit score. Getting pre-approved and shopping around the Muscatel area are a couple of easy ways to help you compare offers. 

Get Great Interest Rates With Western Motors Fresno’s Finance Center

The Western Motors Fresno finance center is here to help you secure a competitive used auto loan for your next vehicle. You can start with the online pre-approval process, and then reach out to our financial representatives to discuss your offers. We can help you navigate your trade-in and financing journey to ensure you leave our lot with a price and package that exceeds your expectations.

More from Western Motors Fresno

  • Your Guide to Getting Out Of A Car Lease Early

    For many, leasing a car is an enticing idea. And besides, who wouldn’t want to drive a brand new car for a low monthly fee that can quickly be traded-in within two to three years— before the vehicle ever breaks out of warranty? Yeah, you’ve signed up for a car lease, assuming it’s all wrong,…

  • GMC Sierra vs Chevrolet Silverado

    Searching for a used pickup truck for sale? Yeah, you’re possibly thinking what trucks to consider and many people do not know that three of America’s top five best-selling cars happen to be pickup trucks. GMC’s Sierra and Chevrolet’s Silverado, respectively, are on the top of the list for first and second place and have…

  • Camaro vs. Mustang: The Battle of the Best Pony Car

    Ford released the Mustang with massive popularity in the mid-1964 model year. Chevrolet responded back with the Camaro in 1967 at the end of 1966, setting up a decades-long battle not only for sales, but for the hearts of America’s performance car buyers. While differences have happened along the way, the Mustang and Camaro continue…

Saved Vehicles

SAVED VEHICLES

You don't have any saved vehicles!

Look for this link on your favorites:

Save

Once you've saved some vehicles, you can view them here at any time.

Contact Us

559-383-0000

Call Now

5272 N Blackstone Ave • Fresno, CA 93710

Get Directions

Today's Hours:

Open Today! Sales: 8am-8pm

Open Today! Service: 8am-5pm

Western Motors Fresno 36.813653, -119.789834.