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Average Bad Credit (Subprime) Auto Loan Interest Rates

Are you wondering what the average interest rate is for a bad credit car loan? You have come to the right place. Below we have the results from the 2014 Non-Prime Auto Finance Survey, conducted by the National Automotive Finance Association (NAF).  Not only do we have the average interest rates for last year, but also data such as average amount financed, credit score, term length, and more. We have divided the data between new and used car purchases, as interest rates for used vehicles are significantly higher.

Vehicle Type Interest Rate Credit Score Amount Financed Term Length Loan-to-Value Ratio
New Car 8.1% 614 $26,943 70 Months 126%
Used Car 12.9% 596 $16,233 60 Months 141%

This should give you a pretty good idea of what to expect if you’re financing a car with non-prime credit.  However, the only way to find out exactly what rate you’ll be charged is to apply online and speak with a finance professional who can offer you a quote.