Car Loan Interest Rates 2022. There are several lenders who offer car loans in India. The interest rates for the car loans in India start at as low as 6.65% p.a. Based on your credit rating, you can avail a car loan which finances up to 100% of the on-road price of the car.
What is a good APR for 2022 car loan?
The average interest rate for auto loans on new cars in 2022 is 4.07%. The average interest rate on loans for used cars is 8.62%. If you have a high credit score, you can expect your interest rate to be slightly lower than these figures.
What is the current car loan interest rate?
Generally speaking, if your credit score is 700 or less, 4.5% APR is considered good. In fact, it's close to average for a standard car loan. If your credit score is above 750, you can likely find lower interest rates in the 2% to 3% range.