Refinance Rates In 2024 For Cars. In early 2024, new car loans with 0% apr constitute a mere 2.4% of the market, a major drop from one year prior. With rates starting at 5.44% for new cars, you can borrow as much as $150,000 for as many as 84 months.
The average rate for a new car buyer with deep subprime credit was 15.62% as of the first quarter of 2024, according to experian data. Refinancing an auto loan involves replacing your existing loan with another, giving you a chance to get better rates and terms for monthly car payments.
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