What is the difference in loan interest rates between new and used cars?There is no significant difference in loan interest rates between new and used cars
One reason for this is that many lenders offer the same interest rates for both new and used car loans. Additionally, the age and condition of a car do not necessarily have a direct impact on the interest rate offered by lenders. Other factors, such as the borrower's credit history, loan amount, and loan term, play a larger role in determining the interest rate for a car loan. Overall, the differences in interest rates between new and used car loans are minimal and may vary depending on the lender.
