The average car loan interest rate as of early 2025 varies depending on whether the car is new or used and the borrower's credit score.

• For new cars, the average interest rate is about 6.35% APR.
• For used cars, the average interest rate is higher, around 11.62% APR

Interest rates also vary significantly by credit score. According to Experian data from Q4 2024:

Credit Score Range| New Car Loan APR| Used Car Loan APR
---|---|---
781-850 (Super prime)| 4.77%| 7.67%
661-780 (Prime)| 6.40%| 9.95%
601-660 (Near prime)| 9.59%| 14.46%
501-600 (Subprime)| 13.08%| 19.38%
300-500 (Deep subprime)| 15.75%| 21.81%

This means borrowers with excellent credit scores can secure rates below 5% for new cars, while those with poor credit may face rates above 15% for new cars and even higher for used cars

. In summary, the average car loan interest rate is roughly 6.35% for new vehicles and 11.62% for used vehicles, but your actual rate will depend heavily on your creditworthiness and other factors like loan term and lender policies.