What is a Good Interest Rate for a Car Loan?

Couple buying a car


Doing your homework and learning what is a good interest rate for a car loan before making a purchase decision can be critical in avoiding overpaying. Learning what is the average interest rate on a car loan is also important, as you’ll want to be realistic about your financial status. Factors that impact a car loan interest rate can include credit score, whether you buy a new or used car and more.

How Do I Get a Good Car Loan Interest Rate?

In order to get the best interest rate, you’ll need to come to the dealership prepared. Study your credit history and remember that the higher your score, the lower your interest rate. Negotiation is key and can be aided by acquiring loan offers from various lenders. If you’re asking, “What is a good interest rate for a car loan” the answer can range between 3.17% and 13.76%.

Your credit score is the main factor that’ll determine what’s fair for your interest rate on your car loan. Gathering as much information as possible before buying your car will help you determine if you’re being offered a fair interest rate. When you’re given a good deal, you can hit the Nashville streets with confidence. 

What is the Average Interest Rate on a Car Loan?

So, what is the average interest rate on a car loan? Most Hendersonville drivers will have a three-year car loan with an interest rate between 3% and 4.5%. This rate can vary greatly based on your individual credit score and lender. Shopping around with different lenders is the best way to find a good deal. Pre-approval is also a smart way to determine if your car loan and interest rate is right for you and your budget. Talk to our finance department to discuss your purchase options. 

Learn What is a Good Car Loan Rate and More!

If you’re ready to begin the car buying process or if you’re still wondering, “What is a good car loan rate,” contact us today! Our team can help you make the right purchase decision and offer great car buying tips. Visit us at Music City Autoplex to learn more about car loans and to bring your dream car home to Clarksville today!

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2430 Gallatin Pike N • Madison, TN 37115

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Music City Autoplex

2430 Gallatin Pike N Madison, TN

Phone: 888-797-4947

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Phone: 888-797-4947

2430 Gallatin Pike N Madison, TN
36.269330 -86.710610
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Music City Autoplex
Music City Autoplex
2430 Gallatin Pike N
Madison, TN, 37115 US
888-797-4947
https://di-uploads-pod20.dealerinspire.com/musiccityautoplex/uploads/2019/03/MusicCityAutoplex.png
Music City Autoplex 36.269330, -86.710610.