What is a Good Interest Rate for a Car Loan?


At Kearny Mesa Kia, we want to make sure our customers aren’t overpaying on their car loans, and receive appropriate interest rates based on their credit scores. For your reference, we’ve made the chart below, and provided a breakdown of how to get the best interest rate. Read on to learn more about the average new and used car loans based on credit scores and the APR, or Annual Percentage Rate, for that average. Then, apply for financing at Kearny Mesa Kia and we can approve you in no time!

How to Get the Best Interest Rate

In order to obtain the best rate interest rate, we recommend that you plan ahead by checking your credit history and making note of your score. The higher your credit score, the lower your interest rate will be. You’ll also want to be prepared to negotiate. But, what is a good car loan rate? As the chart above indicates, a good car loan rate ranges anywhere from 3.17% and 13.76%, depending on your credit score

After looking at the chart, you can plan for the rate you want and prepare to negotiate if the lender offers you a higher rate than expected. You’ll also want to be careful of the offer itself. You don’t only want to focus on the payment and ignore the rest of the deal. Be sure to pay close attention to the details!

What is the Average Interest Rate on a Car Loan?

Typically, on a three-year car loan, the average interest rate is around 3% to 4.5%. However, you may receive a different offer based on your credit score and the lender you’re getting the loan from. Ultimately, the best way to compare your car loans and interest rates is to get pre-approved and compare that way. 

Finance Your Next Vehicle with Kearny Mesa Kia 

Our finance team is ready to help shoppers from La Mesa to Chula Vista with the pre-approval process so they can secure the keys to a new automobile for a great rate. Contact us at Kearny Mesa Kia to start comparing rates and to initiate the financing process today! 

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7303 Clairemont Mesa Blvd • San Diego, CA 92111

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Kearny Mesa Kia 32.831858, -117.161401.