Will Car Loan Rates Go Down In 2025 Delhi. Just enter your loan amount, interest rates and loan period/tenure. The average rate on new car loans was 7.1 percent in august, according to edmunds, a car shopping website, down slightly from 7.4 percent in the same month in 2023 and up from 5.7 percent in 2022.
Car buyers should expect higher vehicle prices and tight lending criteria, especially for poor. In desperation, she has turned to borrowing from loan sharks at an exorbitant 20% interest rate.