Projected Auto Loan Interest Rates 2024. Staying informed on interest rate forecasts can help borrowers determine the best time to apply for an auto loan. According to smoke, the average interest rate on a new car loan in december 2023 was 9.5%, down from a high of 10% in october but nearly double the december 2021 average rate of just 5.2%.

Discover the key trends in auto financing for 2024 and 2025, including economic impacts, rising ev demand, flexible loan options, and the role of ai. Here’s what borrowers should consider before applying.