Interest rates of 4 percent or lower can be considered good rates on a new car loan, as of 2015. Interest rates on car loans fluctuate considerably with market interest rates, the borrower's credit score, the repayment term of the loan and whether the car is new or used.
Average rates for a 60-month new car loan are expected to be approximately 4.35 percent. While some financial institutions offer rates as low as 1.5 percent for car loans, these are often small loans with very short repayment periods. A more realistic estimate for 60-month new car loans by borrowers with excellent credit scores is 3.2 percent, the average for car loans for borrowers with credit scores of 740 or above during 2013.