Current Car Loan Rates

The exact rate you pay will vary by your location and credit score.
Current car loan rates. Lenders consider people with a score in the range of 700 to 749 to be a fairly low risk. Auto loan rates in canada rates updated. These are our top picks for lenders along with information about the current car loan rates in canada. However while people in this range would generally get charged below average interest rates from banks credit unions and.
Cars and truck loans in singapore commonly bill level rates of interest suggesting rate of interest payment is a consistent amount every month over the life of a loan. Best car loan rates in canada 2020. Average auto loan rates for good credit. Compare auto loan rates.
If your credit score has improved or if interest rates have gone down since you first financed your car refinancing your auto loan could lower your monthly payment and save you money over. According to market data the current rate for a 60 month new car loan is 4 93 4 87 for 48 months and 5 57 for a 36 month used car loan. You ll need at least a 640 credit score to get approved with consumers credit union but it offers the lowest apr of all the options on this list so if you re interested in securing the lowest possible rate you might want to consider jumping through the hoops to join ccu. These maximum rates may seem high but lenders have indicated that they are rare scenarios and most fixed interest rates fall well below these maximums.
It s our job at car loans canada to get you the lowest rate on a vehicle you want with a payment you can afford. Auto loan rates in canada can range anywhere from 0 00 right up to 29 95. Below are the current auto loan rates being offered broken down by each individual lender in canada. Even if your credit score is lower you may still qualify for.
Credit scores of 719 for a new car or 655 for a used car or higher will help you qualify for the lowest auto loan interest rates. See rates for new and used car loans and find auto loan refinance rates from lenders. Auto loan rates are at historically low levels as a result of an overall low interest rate environment. In return you can get an auto loan rate as low as 2 69.
Over the last decade the average interest rate on a 48 month auto loan from a commercial bank has fallen by over 40.