Used Car Loan Guide November 2025
Used Car Loan Rates November 2025
How your car’s model year and mileage dramatically change your APR, term length, and monthly payment
Current average used car loan rate: 7.53% APR (48-month term)
Average loan amount: $26,000 • Average term: 67 months
Used Car Loan Rates by Credit Score (November 2025)
| Credit Score | Tier | Avg. APR | Typical Term |
|---|---|---|---|
| 781–850 | Super Prime | 6.82% | 72–84 months |
| 661–780 | Prime | 9.06% | 60–72 months |
| 601–660 | Nonprime | 13.74% | 48–60 months |
| 501–600 | Subprime | 18.99% | 36–48 months |
| 300–500 | Deep Subprime | 21.58% | 24–36 months |
How Model Year Affects Your Loan Terms
| Model Year | Typical APR (Good Credit) | Max Term | Best For |
|---|---|---|---|
| 2024–2025 | 6.5% – 8.0% | 84 months | Lowest rates and longest terms |
| 2021–2023 | 7.5% – 9.5% | 72 months | Great balance of price and terms |
| 2018–2020 | 9.0% – 11.0% | 60 months | Higher down payment often required |
| 2015–2017 | 11.0% – 14.0% | 48 months | Credit union financing recommended |
How Mileage Affects Your Loan Terms
| Mileage | APR Impact | Max Term | Notes |
|---|---|---|---|
| <30,000 miles | Lowest rates | 84 months | Treated almost like new |
| 30–60,000 miles | +0.5–1.0% | 72 months | Standard used car range |
| 60–100,000 miles | +1.5–3.0% | 60 months | 20%+ down payment common |
| >100,000 miles | 12%+ | 48 months or less | Limited lender options |
2026 Forecast: Where Are Rates Headed?
Analysts expect gradual improvement through 2026 as the Fed continues cutting rates:
Quick Tips to Get the Best Rate in Late 2025
- Shop credit unions first – often 0.5–1% lower than banks
- Target CPO vehicles under 40,000 miles for premium terms
- Get pre-approved at 3+ lenders before stepping on the lot
- Aim for 20% down on higher-mileage cars
- Time your purchase for end of month or year-end sales
Bottom Line: A 2024 model with 25,000 miles can save you $2,500–$4,000 in interest vs. a 2019 model with 90,000 miles — even if the purchase price is only $3,000 higher.
Data sources: Bankrate (November 2025), Experian State of the Automotive Finance Market Q3 2025, Cox Automotive, Federal Reserve forecasts. Rates and terms are averages and will vary by lender and borrower profile.