Car Interest Rates In 2024. As the fed raised rates to combat inflation, automakers made a practical business decision: And a more expensive car will cost more for.

As the fed raised rates to combat inflation, automakers made a practical business decision: In november 2024, automotive site edmunds.com listed the average car loan interest rate for october 2024 as 7% apr for new car loans and 11.1% apr for used car loans.