Is 2.49% a good rate for a 48-month car loan with a 740 credit score?

I found a 2.49% 48-month car loan through PenFed Credit Union. It seems like a reasonable rate, considering my credit score is only 740. Is this a good rate or can I find something better somewhere else?

Answer
“It never hurts to shop around for car loan rates, just as you would with car insurance.
But 2.49% for 48 months sounds like a pretty solid deal. My advice is to sign the paperwork on that deal before you let it get away. It’s unlikely you’ll be able to find a better rate anywhere else.
Don’t forget that when you buy a new vehicle, you will need proper coverage. If you haven’t already found insurance, use the free Jerry app to help you find the best deal. Jerry compares rates from the top 50 companies in under a minute, delivering the best deals to your phone.”
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Eric Schad
Answered on Aug 02, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
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