I was shopping around for a car loan and, due to my limited credit history, the best rate I could find was 15%. Is this good? Or should I keep shopping?
compared to national averages according to Experian’s State of the Automotive Finance Market report. Even then, experts would recommend improving your credit score before adding debt from a car loan.
Your next steps: If you’re getting offered a 15% APR, you have to question the reasoning behind it:
app to find a car loan rate that works for you no matter what your credit score is. Car owners save $85 a month on average by refinancing their auto loan with Jerry.
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.