Will Auto Loan Interest Rates Go Down In 2024. Updated 12:05 pm pdt, september 18, 2024. We've rounded up the current average interest rates.

Auto loan rates for new car purchases were above 7% in the fourth quarter of 2023 and even higher, 11.6%, for used vehicle purchases, according to edmunds. While rates could come down in 2024, it’s fair to say that auto loans won’t.