Average Finance Rate of Used Car Loans at Finance Companies, Amount of Finance Weighted : 16.61% (As of 2024-07-01)
Historical Data
Basic Info
Average Finance Rate of Used Car Loans at Finance Companies, Amount of Finance Weighted was 16.61 as of 2024-07-01, according to The Federal Reserve. Historically, Average Finance Rate of Used Car Loans at Finance Companies, Amount of Finance Weighted reached a record high of 17.02 and a record low of 10.03, the median value is 13.34. Typical value range is from 13.16 to 15.32. The Year-Over-Year growth is 7.9%. GuruFocus provides the current actual value, an historical data chart and related indicators for Average Finance Rate of Used Car Loans at Finance Companies, Amount of Finance Weighted - last updated on 2024-07-01.
The Average Finance Rate of Used Car Loans at Finance Companies, Amount of Finance Weighted, measures the typical interest rate applied to used car loans, weighted by the amount financed. This metric provides insight into the cost of borrowing for consumers purchasing used vehicles through finance companies, reflecting the overall interest rate environment in the used car loan market.
Note: Both the Average Finance Rate for used car loans and the Average Maturity of these loans have increased since 2008, of which the uprising patterns are shared between these two. Higher Rates, Longer Terms is the theme behind, and it may indicate that consumers were willing to accept longer loan terms to offset the impact of rising rates on their monthly budgets.
Quarterly, not seasonally adjusted. For further information, please refer to the Board of Governors of the Federal Reserve System's G.20 release, online at http://www.federalreserve.gov/releases/g20/.
| Category | Production & Business Activity |
| Region | USA |
| Source | The Federal Reserve |
Stats
| Name | Value | ||
|---|---|---|---|
| Last Value | 16.61% | ||
| Latest Period | 2024-07-01 | ||
| Long Term Average | 14.24% | ||
| Average Annualized Growth Rate | +1.95% | ||
| Value from 1 year ago | 15.39% | ||
| Change from 1 year ago | +7.93% | ||
| Frequency | Quarterly | ||
| Unit | % | ||
| Download Source | RIELPCFAUNQ.txt |
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