Personal loans are not known for low rates, and yet I was able to get one with a significantly lower rate than the car loan we got last year. (You can't use the personal loan to *buy* a car, but they can't stop you from paying off an existing loan....)

ENniedermeyer.ioOct 2, 2024 8:05pm

The average new car loan in August was $40,700, with a payoff term of 68.8 months, or 5.7 years and a 9.61% interest rate. The average used car loan interest rate is almost 14%. www.cnbc.com/2024/09/30/w...

Why the Fed's rate cut won't immediately help car buyers or sales

Auto loan interest rates remain near decades-high levels of more than 9.61% for a new vehicle and nearly 14% for a used vehicle, according to Cox Automotive.