Average New Car Loan Interest Rate 2024. In the second quarter of 2024, the overall average auto loan interest rate was 6.84% for new cars and 12.01% for used cars. We've rounded up the current average interest rates for new car loans, used car loans and refinance car loans.

Average auto loan rates over time. According to an edmunds survey in august, 64% of all car shoppers said a fed rate cut would affect the timing of their next car purchase.