Maintain Peace of Mind With Don Ringler Direct.
Steps:
1. Choose Your Vehicle
2. Setup your Garage
3. Value Your Trade
4. Select Payment Options
5. Schedule Delivery
Learn More

Buy From Home

What is a Good Interest Rate for a Car Loan?

Man Sitting at Desk Doing Calculations

Average New-Car Loan

Annual Percentage Rate

Average Used-Car Loan

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%

What is the average interest rate on a car loan and what is a good interest rate for a car loan? Most Toyota interest rates can run between 3.17% and 13.76%, as you can see in the chart above. Any Temple or Belton driver can expect to negotiate for their interest rate, so it’s good to know as many facts as possible. The finance center at Don Ringler Toyota answers the question, “What is a good car loan rate?” as well as average used car loan interest rates below!

What is a Good Interest Rate for a Car Loan?

Have you asked yourself, “What is a good interest rate on a car loan?” The lowest possible interest rate on a car loan is 3.17% for a new car or 3.8% on a used car — and that’s for those Waco drivers with very high credit scores. Other factors to weigh when it comes to this question are:

  • Average New vs. Average Used Car Loan Interest Rates: As noted above, Toyota interest rates differ when it comes to new and used cars. There are also certified pre-owned vehicles to consider.
  • Go Beyond Monthly Payments: There’s asking, “What is a good car loan rate?” and then there’s asking, “What is my ideal payment plan?” Many drivers have an ideal monthly payment in mind. But you should be alert to when someone can only get to a lower monthly payment by raising interest rates. In the end, you’d be paying a lot more money!

What is the Average Interest Rate on a Car Loan?

So, what is the average interest rate on a car loan? Do that math on the chart and you’ll see that the average interest rate falls between 3% to 4.5%. Here are some tips for those who want to secure that rate:

  • Shop Around: Many Killeen dealerships allow you to apply for financing online and get pre-approved. You can try this at a couple of places to get a ballpark idea of your interest rate.
  • Know Your Credit Score: It’s stating the obvious, but your credit score is a huge determinant when it comes to a car loan interest rate. Bad credit car financing is possible, so don’t give up!

Explore the Toyota Interest Rates at Don Ringler Toyota!

For drivers asking, “What is a good interest rate for a car loan?” and any other questions on average used car loan interest rates, Don Ringler Toyota is here to help break down all of our available Toyota interest rates. That’s why we provide car buying tips for Temple drivers in addition to special offers and incentives. Contact us today to start the car-buying process with experts who regularly help drivers save!

 

More from Don Ringler Toyota

  • How Many Miles Per Gallon Does the 2024 Toyota Tundra i-FORCE MAX Get?

      The i-FORCE MAX is a hybrid powertrain that comes standard on two trims of the new Toyota Tundra, and it offers impressive gas mileage for a truck of this class. Is the 2024 Toyota Tundra hybrid fuel-efficient? How many miles per gallon does the 2024 Toyota Tundra i-FORCE MAX get on our Belton roads?…

  • 2024 Toyota Tacoma Redesign Changes: What’s New?

      The 2024 Toyota Tacoma redesign has arrived with an exciting and innovative model, featuring a range of enhancements that elevate its performance, versatility, and technology offerings for drivers in Belton. What’s new for the 2024 Toyota Tacoma? Let’s dive into the impressive updates that are set to redefine your driving experience. When you are…

  • 2024 Toyota Grand Highlander Trim Levels & Price

      In the world of SUVs, Toyota presents the 2024 Grand Highlander, a three-row marvel designed for more space in Belton. This SUV offers three distinct trims: XLE, Limited, and Platinum, catering to diverse preferences. All three 2024 Toyota Grand Highlander trim levels feature a powerful 265-horsepower turbocharged 2.4-liter 4-cylinder engine paired with an efficient…

Don Ringler Toyota 31.058766, -97.4355758.