BobKamman
Level 15

Edmunds.com listed the average car loan interest rate for February 2025 as 7.2% APR for new car loans.  If you finance $30,000 you'll pay about $2,000 in the first year (as the balance goes down faster than a mortgage).  There are lots of cars selling for less than that, although there are more selling at a higher price.  And even if you pay $60,000 the interest by the second or third year won't be more than a couple thousand.

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