Reported 2 days ago
There is no federal maximum interest rate for auto loans; rates depend on factors like credit score, loan terms, and vehicle type. While some states cap interest rates for personal loans, no uniform rate exists across the U.S. Generally, borrowers with higher credit scores secure lower rates, and vehicle age and condition also influence the rate offered. Additionally, military members benefit from specific protections limiting interest charges. Understanding these variables can aid consumers in securing better loan terms.
Source: YAHOO