What is currently a good interest rate for an auto loan?
Highly variable based on many things. For me, 18% would be good and 15% would be a miracle. Of course, it isn’t quite that simple. With all of the other incentives, balanced with the need for the car company to make a profit despite their rising expenses, the interest rates are not the only thing you need to worry about. They usually take advantage of the fact that most people won’t calculate the actual total cost of the vehicle due to the math involved. Oh, and watch out for the “simple” interest 😉 The interest rate is, to an extent, a marketing gimmick. Well, at least to the mathematically inclined who understand how the world REALLY works.
