Even with good credit, interest rates are at least 4% because of inflation.
MONTGOMERY, Ala. - New and used vehicle prices have been up since the beginning of the pandemic in 2020.
“You had the microchip shortage, which slowed down new cars,” said Erick Wicklund, general manager of Brewbaker Motors.Even with good credit, interest rates are at least 4% because of inflation, meaning owners would pay an additional $80 for each car payment.Wicklund says if you have reasonably good credit and trade in a vehicle, you can lower your interest rate to at least 2.9%.
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