Current Indiana Interest Rates for Car Loans

Indiana residents looking to finance a new set of wheels can expect interest rates that vary depending on their credit score and loan term.

For those with excellent credit, interest rates can be as low as 3.5% for a 60-month loan. However, if you have a less-than-perfect credit history, rates can jump up to 12% or more.

The average interest rate for a 36-month car loan in Indiana is around 4.5%, while a 72-month loan can have an average rate of 5.5%.

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In Indiana, you can find a range of car loan options that cater to different needs and preferences.

One option is a 5-year auto loan with an APR that's based on a $25,000 loan for a new vehicle purchase.

Discounts are available for having monthly payments automatically deducted from an account and/or for having other relationship accounts with the institution.

These discounts can reduce the rate, but rates are subject to change without notice.

If you're looking for a lower APR, you can consider refinancing your current loan or shopping for a used car.

For prime credit scores, you can expect an average APR of 6.04% on a used car loan.

This rate can provide a great monthly payment, but it's essential to check the fine print and understand the terms and conditions.

To qualify for a special rate, you might need to meet specific requirements, such as having an auto debit for monthly payments.

Here's a breakdown of some Indiana car loan options:

Keep in mind that these options are subject to change or end without notice, so it's crucial to act quickly if you're interested.