How does the Fed interest rate affect car loans?
Does the Fed interest rate affect car loans? Yes, it does: It has a domino effect that can raise or lower auto loan rates.
About the author
Rebecca Betterton, a Certified Financial Education Instructor℠, is a former writer for Bankrate who has been reporting on auto loans since 2021. Through her writing, Rebecca aims to provide clarity and accessibility to the automotive loans industry as the cost of financing new and used vehicles continues to climb due to steep inflation.
She specializes in assisting readers in navigating the ins and outs of securely borrowing money to purchase a car, but recently widened her scope to cover personal loans and other debt topics. Prior to her time at Bankrate, she was a social media reporter and copywriter.
When Rebecca isn’t researching recent trends in personal finance, she is an avid runner and a lover of interior design.
Does the Fed interest rate affect car loans? Yes, it does: It has a domino effect that can raise or lower auto loan rates.
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