Call Now



Call Now

Today's Hours:

Open Today! Service: 7am-6pm

Open Today! Sales: 9am-8pm


1557 Auto Park Way • Escondido, CA 92029

Get Directions

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.

More from MINI of Escondido

  • How to Bless Local this upcoming school year.

    MINI of Escondido remains committed to our large community, and through Bless Local and Jeff Moors at Rhythm, we will continue to show up when it counts. As a locally owned and operated BMW dealership, we know that we’re a little different than most large box dealerships. We’re lean, so we stay hungry to serve…

  • MINI Vision Urbanaut

    Mini Vision Urbanaut Is a Full-Size Space Concept Discover a vision of a MINI Design with a larger and more versatile interior than ever – the vision vehicle MINI Vision Urbanaut, an all-new interpretation of a space concept. MINI took the dream and made it a reality from a rendering, with an all-electric, autonomous lounge…

  • It’s SoCal Taco Fest time!

    MINI of Escondido and BMW of Escondido are back, and we’re celebrating it in a big way this Fall in San Diego!  Join us October 23, 2021 at Waterfront Park for Taco Fest. We’re hosting and sponsoring events all across San Diego, and Taco Fest is our biggest event this year! Let us know you’re coming…

MINI of Escondido 33.1165134, -117.1079991.