Will Interest Rates Go Down In 2024 For Cars. Economists predict they should be about the same. About a fifth (19%) will wait until rates fall below 5%, and.
In other words, don’t hold your breath for a cut at either of its next two meetings, in march and may. Auto loan rates could (finally) come down in 2024.
Overall, New Car Prices Are Down 1.4% Since October 2022 And 3.5% Since Their Peak In December 2022.
The fed raised rates through much of 2023, keeping auto loan rates high.
Low Inventory, High Demand And Elevated Interest Rates Affected Car Shoppers In 2023.
For a used vehicle, the average rate is just over 14% compared with.
As Of October 2023, The Average New Car Loan Apr Is North Of 9%.
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Earlier In The Year, Most Economists Pegged The First Rate.
About a fifth (19%) will wait until rates fall below 5%, and.
There Is A Possibility That Auto Finance Rates Will Start To Drop In The Next Year โ Hereโs What That Means For Car Buyers, Lenders And.
Avoid buying these 5 cars:
