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What's considered high interest on a car loan?

I don't want to get hit with a high interest rate on a car loan. What kinds of numbers are considered high when it comes to loan interest?

Johnny Puckett · Updated on Mar 8, 2021

Reviewed by Shannon Martin, Licensed Insurance Agent.

Lenders determine interest rates based on many things, but risk and the length of the loan are the two biggest determining factors. Buyers should look for interest rates in the single digits and avoid loans with interest rates of 10% or higher.

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