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1557 Auto Park Way • Escondido, CA 92029

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What is a Good Interest Rate for a Car Loan?

Many San Marcos drivers are looking for ways to avoid overpaying for their vehicle, as well as a better understanding of the right interest rate per car loan. With your credit score in mind, we have made a chart and broke down how to get the best interest rate based on credit scores. Whether you’re wondering what is the average interest rate on a car loan, or what is a good car loan rate, we have you covered at MINI of Escondido! After that, we can approve your financing in no time!

New and Used Car APR

Average New-Car Loan

Annual Percentage Rate

Average Used-Car Loan

Annual Percentage Rate





















How Do You Get the Best Interest Rate?

To get the best interest rate, the first thing to do is plan ahead. Get a copy of your credit history and take note of the score. The higher the credit score, the lower your interest rate. You also want to make sure you are ready to negotiate.

So what is a good car loan rate? Based on the chart above, it could be anywhere between 3.17% and 13.76% depending on your credit score. After looking at this chart, plan the rate you want and be prepared to negotiate if you’re offered something higher than you expected. Be careful of is the offer. Don’t just focus on the payment and ignore the rest of the deal. Pay close attention to the details.

What is the Average Interest Rate on a Car Loan?

On a three-year car loan, the average interest rate is around 3% to 4.5%. But you can get different offers based on your credit score as well as where you’re getting the loan. In the end, the easiest way to compare your car loans and interest rates is to shop around or get pre-approved and compare the numbers that way.

Apply for Financing at MINI of Escondido

Now that we have answered, “what is a good interest rate for a car loan,” it’s time to make the trip to our Escondido dealership. Our finance center will guide you through the pre-approval process, go over gap insurance, and get you behind the wheel of the MINI best suited for your driving needs at an unbeatable rate. We’ll be there for you every step of the car-buying process! Contact us to compare rates or to get the process started today.

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MINI of Escondido

1557 Auto Park Way Escondido, CA

Phone: 760-520-3000,-117.1108106,17.48z/data=!4m5!3m4!1s0x80dbf4ec2349c6b3:0x4382cf051c3df9e5!8m2!3d33.116486!4d-117.10796


Phone: 800-544-4269

1557 Auto Park Way Escondido, CA


Phone: 760-520-3000

1557 Auto Park Way Escondido, CA


Phone: 760-291-2894

1557 Auto Park Way Escondido, CA

Collision Center

Phone: 760-739-1029

1557 Auto Park Way Escondido, CA
33.1165134 -117.1079991
MINI of Escondido 33.1165134, -117.1079991.