What's considered high interest on a car loan?

I don't want to get hit with a high interest rate on a car loan. What kinds of numbers are considered high when it comes to loan interest?

Answer
Lenders determine interest rates based on many things, but risk and the length of the loan are the two biggest determining factors. Buyers should look for interest rates in the single digits and avoid loans with interest rates of 10% or higher.
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Johnny Puckett
Answered on Mar 08, 2021
Johnny Puckett is a freelance writer and automotive expert. He has contributed content to a number of some of the largest online publications, aftermarket automotive manufacturers’ sites, and automotive informational sites. His experience in the automotive and information fields informs his writing at Jerry. His automotive interests bleed into his free time, where he enjoys modifying his favorite cars and woodworking.
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