The interest rate on a used car loan can vary depending on several factors, such as your credit score, income, and the loans details. According to Experians State of the Automotive Finance Market report, the average auto loan interest rate for used cars in the second quarter of 2023 was 11.38% . However, the interest rate you receive can be lower or higher than the average, depending on your credit score. For example, if your credit score falls in the range of 661 to 780, the average APR for a used car loan is 9.06% . On the other hand, if your credit score falls in the range of 501 to 600, the average APR for a used car loan is 18.49% . Its important to note that interest rates can also be affected by broader market factors, such as the Federal Reserves target interest rate. Therefore, its recommended to shop around and compare offers from different lenders to find the best interest rate for your used car loan.