Auto loans for new cars typically range from $10,000 to $50,000, with APRs from 3% to 10% for prime borrowers. Used car loans often carry higher rates, 5%–15%, and shorter terms. Down payments of 10%–20% can lower monthly payments and total interest.
| Item | Typical range |
|---|---|
| Typical Loan Amount | $10,000 – $50,000 |
| New Car APR | 3% – 10% |
| Used Car APR | 5% – 15% |
| Common Term Length | 36 – 72 months |
What Drives the Price
Credit score heavily influences your rate: a score above 720 may qualify for 3%–5% APR on a new car, while a score below 600 can push rates above 15%. Loan term (36–72 months) also affects cost—a $25,000 loan at 5% for 48 months costs about $576 monthly, versus $402 for 72 months but more total interest.
New vs Used Vehicle Loans
New car loans generally have lower APRs (3%–7%) and longer terms, but the vehicle depreciates quickly. Used car loans often run 5%–12% APR, and lenders may cap terms at 60 months. For a $20,000 used car at 8% over 48 months, the monthly payment is roughly $488.
How to Compare Quotes
Get preapproved from banks, credit unions, and online lenders before visiting a dealership. Compare the APR, not just the monthly payment—a $30,000 loan at 4% over 60 months costs $552 per month, while a 10% loan costs $637. Watch for add-ons like gap insurance or extended warranties that inflate the total.
What moves the price in Virginia
Vehicle price, down payment, and credit score matter. Local quotes reflect the items below, so two providers can quote different totals for the same described job without either being wrong.
- Local labour rates and licensing requirements for the trade or professional involved
- Permits, inspections and disposal fees set by the local authority
- Travel and call-out charges for the distance from the nearest provider
- Season and demand peaks, which move both the price and the wait
- Materials, parts or inputs, and how their grade or availability changes the total
- Whether the work is a repair, a partial job or a full replacement
How to compare auto loans quotes in Virginia
Write the scope down first, then send the same description to at least three local providers. Compare the quotes line by line against that scope rather than by the headline total.
- Agree the scope: exactly what is being repaired, replaced or supplied, and how far the work extends.
- List the inclusions: labour, materials, permits, inspection fees, disposal and clean-up, each stated separately.
- Ask what is excluded, and what would trigger an extra charge once the work starts.
- Check timing: how soon work can start, how long it takes, and whether out-of-hours rates apply.
- Confirm terms: deposit, payment schedule, warranty on parts and labour, and how changes are priced.
A lower total that leaves out permits, disposal or a necessary second stage is not cheaper once those items are added back. Ask each provider in writing what would change the price.
This page does not quote work and is not a contractor. The range above is an estimate, not an offer.
Common questions
What moves the price of auto loans in Virginia?
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