It’s ultimately up to you to decide how much you want to spend on a car loan. On average, people currently pay $568 per month for a new car loan and $397 per month for a used car loan. However, your loan payments will be determined based on the cost of your car, your loan term, and the APR set by your lender, so some of the factors are out of your control.
Here are some tips that will help you get a good rate on a car loan: