What is the interest rate for loans new cars?

Interest rates on new car loans can vary depending on a number of factors, including the lender, your credit score, and the type of vehicle you are purchasing. As of January 2022, the average interest rate on a new car loan in the United States was 4.07%, according to Experian. However, interest rates can range from as low as 2% to as high as 20% or more.

For the most accurate information, it's best to shop around and compare interest rates from multiple lenders before taking out a new car loan. You can also use an online loan calculator to estimate your monthly payments based on different interest rates and loan terms.

Here are some tips for getting a low interest rate on a new car loan:

- Have a good credit score. This is the most important factor in determining the interest rate you'll be offered. The higher your credit score, the lower your interest rate will be.

- Make a larger down payment. The more you put down on your car, the smaller your loan amount will be and the lower your interest rate will be.

- Choose a shorter loan term. The shorter the loan term, the lower the total amount of interest you'll pay.

- Compare offers from multiple lenders. Don't just accept the first offer you're given. Compare interest rates and fees from multiple lenders before making a decision.

By following these tips, you can increase your chances of getting a low interest rate on a new car loan.