Menu

What is a Good Interest Rate for Your Car Loan?

Signing a finance doc

Buying a new car in Jacksonville isn’t just about finding the right vehicle: it’s also about locking down a good interest rate for your car loan. There are many factors that play into what makes a good car loan, including your credit score, down payment, and more, so let’s break down what is the average interest rate on a car loan and what you can do to put yourself in the strongest possible position. 

New and Used Car APR

Use this chart to get a general understanding of average new and used car annual percentage rate (APR) around Richlands.

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%

How Do You Get the Best Interest Rate?

Planning ahead is the best way to secure a good interest rate for a car loan near Sneads Ferry. Before you start your car shopping journey, make sure you have a handle on your credit history. The higher your credit score, the lower your interest rate will be, so if your score is not where you want it to be, you may want to hold off until you can make some improvements. 

Another way to get a good car loan rate is to negotiate with your sales team. If an offer comes back higher than you expected, take your time to calculate what you can realistically afford and don’t be afraid to counter. Your monthly payment is only one piece of the puzzle, so be sure to pay close attention to all the loan details. 

What is the Average Interest Rate on a Car Loan?

The average interest rate on a car loan hovers around 3-4.5%, but as seen with the chart above, that number can vary wildly depending on your credit history. Do your research and shop around to get the best possible rate for your situation; kick start the process when you apply for financing at Marine Chevrolet! Our finance team can walk you through how to buy a new car and guide you towards the best loan option. 

Get Pre-Approved With Marine Chevrolet 

Ready to discover what kind of interest rate you can get for your new or used vehicle? Get pre-approved at Marine Chevrolet and arm yourself with knowledge by using our top car buying tips. Contact us with any questions! 

More From Marine Chevrolet

  • 2022 Chevy Equinox Towing Capacity

      The 2022 Chevy Equinox towing capacity and payload abilities are massively impressive and perfect for any tasks you might find yourself needing for Camp Lejeune families. Whether you are looking to go on a cross-country road trip or if you are just looking for a quick weekend getaway, check out the 2022 Chevy Equinox. Learn,…

  • 2022 Chevy Equinox Gas Mileage

      Looking for a powerful yet fuel-efficient SUV to enhance your Camp Lejeune drives? The 2022 Chevy Equinox is the perfect option, providing 26 mpg city/31 mpg highway with its base trim level. Learn more about the Chevy Equinox gas mileage with Marine Chevrolet, and contact us to schedule a test drive!   View Equinox InventoryContact Us…

  • 2022 Chevy Equinox Interior Features & Space

    Interested in the 2022 Chevy Equinox but wondering if the interior features are worth it? Marine Chevrolet near Camp Lejeune has got you covered. The 2022 Chevy Equinox has a wide array of technology features complete with a spacious cabin that will make your Richlands drives comfortable and safe! Learn more about the new Chevy Equinox cabin…

Search
Contact

Contact Us

Main 910-548-7161 Sales 910-548-7161
1408 Western Blvd
Jacksonville, NC 28546
Glovebox
We Buy Cars
Search
Contact Us

Contact Us

Main 910-548-7161 Sales 910-548-7161
1408 Western Blvd
Jacksonville, NC 28546
Glovebox
We Buy Cars
Marine Chevrolet 34.7889, -77.404.