As of January 2025, financing the purchase of used cars was generally more expensive than for new cars. The average interest rate of a loan with a maturity of 60 months was 9.01 percent for used cars and 7.47 percent for new cars. Nevertheless, the monthly payments of car loans were on average higher for new units than for used ones in 2024. That was mainly because the amount financed for new cars tends to be higher.
Average interest rates of car loans in the United States as of January 2025, by type and maturity
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Average interest rates of car loans in the United States as of January 2025, by type and maturity
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Bankrate. (January 24, 2025). Average interest rates of car loans in the United States as of January 2025, by type and maturity [Graph]. In Statista. Retrieved April 29, 2025, from https://www.statista.com/statistics/1391192/car-loan-interest-rates-in-the-us-by-type-and-maturity/
Bankrate. "Average interest rates of car loans in the United States as of January 2025, by type and maturity." Chart. January 24, 2025. Statista. Accessed April 29, 2025. https://www.statista.com/statistics/1391192/car-loan-interest-rates-in-the-us-by-type-and-maturity/
Bankrate. (2025). Average interest rates of car loans in the United States as of January 2025, by type and maturity. Statista. Statista Inc.. Accessed: April 29, 2025. https://www.statista.com/statistics/1391192/car-loan-interest-rates-in-the-us-by-type-and-maturity/
Bankrate. "Average Interest Rates of Car Loans in The United States as of January 2025, by Type and Maturity." Statista, Statista Inc., 24 Jan 2025, https://www.statista.com/statistics/1391192/car-loan-interest-rates-in-the-us-by-type-and-maturity/
Bankrate, Average interest rates of car loans in the United States as of January 2025, by type and maturity Statista, https://www.statista.com/statistics/1391192/car-loan-interest-rates-in-the-us-by-type-and-maturity/ (last visited April 29, 2025)
Average interest rates of car loans in the United States as of January 2025, by type and maturity [Graph], Bankrate, January 24, 2025. [Online]. Available: https://www.statista.com/statistics/1391192/car-loan-interest-rates-in-the-us-by-type-and-maturity/
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