Services
PriceProtect™
DriveShield™
GarageGuard™
Insurance
Car Insurance
Compare Car Insurance with Jerry
Jerry’s Expert Advice
Car Insurance Estimates
Home & Renters Insurance
Home Insurance
Renters Insurance
Loans
Car Loan
Compare Car Loans with Jerry
Jerry's Expert Advice
Car Loan Guides
Repairs
Car Repair Estimates
Repair Estimates for Popular Services
Advice
Read Car Content
Browse Jerry Car Advice
Check Out Expert Car QnA
Learn About How We Create Content
Jerry Data & Research
Recent Studies
Comprehensive Data Reports
Reviews
About
FAQ
MenuIcon
BACK

Is 4.5% APR good for a car loan?

I’m looking for a car loan and I’m getting a lot of different quotes. I’ll probably go with the lowest APR I’ve seen so far, which is 4.5%. But before I do, I just want to check: Is an interest rate of 4.5% good?

avatar
Chloe Jenkins · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Generally speaking, if your credit score is 700 or less, 4.5% APR is considered good. In fact, it’s close to average for a standard
car loan
.
If your credit score is above 750, you can likely find lower interest rates in the 2% to 3% range.
The lower the interest rate, the better it is for you and your wallet. But even if your initial car loan does not have the greatest APR, as your credit score improves, you can refinance into a lower-interest-rate loan to reduce monthly payments and/or total interest owed.
The
Jerry
 app is a great resource for comparing loan options from multiple lenders. Jerry makes it easy by finding the best lenders at the best rates and delivering the lowest-cost options directly to your phone!
MORE: Does refinancing a car hurt your credit score?
Auto RefinanceCar LoansCar FinancingCar Buying
View full answer 
Jerry user testimonial avatar
rating primary
“My experience with Jerry has been absolutely incredible. It took my car insurance from about $400/month to about $80. The entire experience is seamless.” - Gregory R.
Lower my car insurance too
WHY YOU CAN TRUST 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.

Join 4M+ members in lowering their car insurance

Find insurance savings

You Might Also Be Interested

card cover

What Is a Good APR for a Car Loan?

A good APR is usually around 2%. How much you’ll save depends on your credit, type of car, and loan term. Read here to learn what a good APR for your car loan looks like.
avatar
Bonnie Stinson
card cover

The Pros and Cons of Financing a Car

Getting a car loan can help you spread out your expenses and build your credit, but it also means you’ll pay more in the long run due to interest.
avatar
Mary Alice Morris
card cover

How Does Interest Work on a Car Loan?

If you took a loan to pay for your car, you will be charged interest on your monthly loan payments. Interest is what you’re charged to borrow money.
avatar
Mary Cahill

Read Advice From Car Experts At Jerry

card cover

Ford Tested the Towing Capability of the F-150 Lightning and It Aced the Exam

Ford engineers recently tested the F-150 Lightning’s towing capability. How did it perform?
avatar
Andrew Kidd
card cover

Your Guide to Buying a Car in Another State

You can buy a car in another state, but make sure you follow state regulations. Read this article to learn how to buy a car in another state.
avatar
Jessica Barrett
card cover

2006 Nissan Frontier Fuel Filter Location

The 2006 Nissan Frontier fuel filter is part of the fuel pump module in the gas tank. To replace the filter, you have to replace the entire module.
avatar
John Davis

What Others Are Asking

Why would someone cut the straps on a child's car seat?
Why would an insurance company tell someone to cut the straps on a child's car seat? I saw my neighbor put a car seat in the trash, and she said her claims adjuster told her to do that.
avatar
Shannon Martin
Can you sell a home while you're in the process of getting money for a claim?
Our home was on the market when a hailstorm did significant damage. We filed a claim that was approved and now we're waiting for the check for repairs. Can we still sell the house while we're waiting for the check?
avatar
Eric Schad
What are the longest-lasting car batteries on the market?
I want a car battery that can survive the cold and keep my car firing for as long as possible. What are some of the best options?
avatar
Eric Schad
Browse All Questions

Browse More Content

Car Repair Resources

Insurance for Your Car

Insurance in Your State

    Insurance In Your City

    Easiest way to compare and buy car insurance

    √
    No long forms
    √
    No spam or unwanted phone calls
    √
    Quotes from top insurance companies
    Find insurance savings
    Car Insurance by Make
    Audi
    BMW
    Dodge
    Ford
    GMC
    Honda
    Hyundai
    Jeep
    Kia
    Lexus
    Mercedes-Benz
    Mitsubishi
    Subaru
    Tesla
    Toyota
    View all
    Car Insurance by Model
    Chevrolet Silverado
    Chevrolet Malibu
    Ford Escape
    GMC Sierra
    Honda Accord
    Honda Civic
    Hyundai Tucson
    Jeep Cherokee
    Jeep Wrangler
    Kia Forte
    Mazda 3
    Nissan Altima
    Subaru Outback
    Subaru Crosstrek
    Toyota Camry
    Toyota Corolla
    Toyota Tacoma
    Toyota Highlander
    Toyota Rav4
    Volkswagen Jetta
    View all
    Car Insurance by State
    AL
    AZ
    AR
    CA
    CO
    CT
    DE
    FL
    GA
    ID
    IL
    IN
    IA
    KS
    KY
    LA
    ME
    MD
    MA
    MI
    MN
    MS
    MO
    MT
    NE
    NV
    NH
    NJ
    NM
    NY
    NC
    ND
    OH
    OK
    OR
    PA
    RI
    SC
    SD
    TN
    TX
    UT
    VT
    VA
    WA
    WV
    WI
    WY
    Car Insurance by City
    Austin, TX
    Boston, MA
    Charlotte, NC
    Chicago, IL
    Columbus, OH
    Dallas, TX
    Denver, CO
    Houston, TX
    Indianapolis, IN
    Jacksonville, FL
    Las Vegas, NV
    Los Angeles, CA
    Nashville, TN
    New York, NY
    Philadelphia, PA
    Phoenix, AZ
    Portland, OR
    San Antonio, TX
    San Francisco, CA
    Seattle, WA
    View all
    Car Loan by Make
    Audi
    BMW
    Chevrolet
    Ford
    GMC
    Honda
    Hyundai
    Kia
    Lexus
    Nissan
    Mercedes-Benz
    Subaru
    Tesla
    Toyota
    View all
    Car Insurance by Company
    AAA
    Allstate
    Aspire Advantage
    Assurance America
    Bristol West
    Commonwealth
    Dairyland
    Encompass
    Infinity
    Kemper
    Mapfre
    Mercury
    National General
    Nationwide
    Plymouth Rock
    Progressive
    Safeco
    State Auto
    Travelers
    Car Loan by State
    AL
    AZ
    AR
    CA
    CO
    CT
    DE
    FL
    GA
    ID
    IL
    IN
    IA
    KS
    KY
    LA
    ME
    MD
    MA
    MI
    MN
    MS
    MO
    MT
    NE
    NV
    NH
    NJ
    NM
    NY
    NC
    ND
    OH
    OK
    OR
    PA
    RI
    SC
    SD
    TN
    TX
    UT
    VT
    VA
    WA
    WV
    WI
    WY
    Car Repair by Service
    AC Compressor Replacement Cost
    Battery Replacement Cost
    Fuel Injector Replacement Cost
    Fuel Pump Replacement Cost
    Ignition Coil Replacement Cost
    Oil Change Cost
    Oil Pan Replacement Cost
    Power Steering Fluid Service Cost
    Rotate Tires Cost
    Spark Plugs Replacement Cost
    Timing Belt Replacement Cost
    Valve Cover Gasket Replacement Cost
    Water Pump Replacement Cost
    Wheel Bearings Replacement Cost
    View all