What is a Good Interest Rate for a Car Loan?

Finance CalculatorAt Arrotta's Automax & RV, we understand that you want to save when you take home a pre-owned model from our online inventory. Needless to say, our finance team is asked a lot of questions about interest rates. “What is a good interest rate for a car loan?” and “what is the average interest rate on a car loan?” are two of our biggest FAQs! Learn more about average new and used car loans based on credit scores APR! And when you’re ready, we can help you get pre-approved for financing.

New and Used Car APR

If you already know your credit score, then simply check the APR that corresponds with the credit range you fall into. If you have any questions, don’t hesitate to contact us!

APR by Credit Score (New Car)

  • 781-850 – 3.17%
  • 661-780 – 4.03%
  • 601-660 – 6.79%
  • 501-600 – 10.98%
  • 300-500 – 13.76%

APR by Credit Score (Used Car)

  • 781-850 – 3.8%
  • 661-780 – 5.48%
  • 601-660 – 10.1%
  • 501-600 – 16.27%
  • 300-500 – 19.32%

How Do You Get the Best Interest Rate?

As you can see in the chart, the higher your credit score, the lower your interest rate will be. But remember, this is only a rough guideline! You may have room to negotiate. So what is a good car loan rate? Based on the chart above, it could be anywhere between 3.17% and 13.76%, and that relies entirely on your credit score.

After browsing the chart, plan for the rate you want, and be prepared to negotiate if your offer doesn’t match. When negotiating, pay close attention to the details. Don’t simply look at your monthly payment, and don’t hesitate to ask “what is a good interest rate on a car loan?” again!

Car Key and Pen on Contract

What is the Average Interest Rate on a Car Loan?

With a three or four year auto loan, the average interest rate is roughly 3% to 4.5%. However, you may be offered rates that are higher or lower depending on your credit score, as well as the lessor. It’s best to shop around near Coeur D’Alene, ID and Post Falls, ID to find the best interest rate on a car loan.

Apply for Financing at Arrotta's Automax & RV

Our finance team is always happy to help you discover what is a good interest rate for a car loan, and how to finance with a bad credit score! Contact us to ask us any questions like “what is a good car loan rate?” or to get the process started today! We’re just a short drive from Spokane, WA.

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6623 N Division St • Spokane, WA 99208

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Arrotta's Automax & RV

6623 N Division St Spokane, WA




Phone: (509) 204-5755

6623 N Division St Spokane, WA


Phone: (509) 381-5445

6623 N Division St Spokane, WA
47.7181525 -117.4117541
Arrotta's Automax & RV 47.7181525, -117.4117541.