What APR should I shoot for on a 60-month car loan?

I want to get a 60-month car loan, but this is my first time getting one. I also want to get the best interest rate. What APR should I try to get?

Answer
On average, a good APR for a 60-month car loan is 3.81% as of September 2021.
However, you may be able to get an even lower rate if your credit score is in the prime to superprime range, which includes credit scores between 661 and 850. The only surefire way to make sure you can get a good rate is to shop around as much as possible.
And since you’re already shopping around for loan interest rates, you may as well do the same for your car insurance. Any lender you choose will require full coverage car insurance.
To get the best price, download the car insurance broker and comparison shopping app Jerry. Just answer a handful of questions that will take you roughly 45 seconds to complete and you’ll immediately get car insurance quotes for coverage similar to your current plan. Jerry customers save an average of $879 a year!
Eric Schad
Answered on Oct 25, 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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