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It's that time of the year again, kids. Manufacturers are busy trying to put people in cars in order to move leftover stock and make room for incoming models, and many are doing so with ridiculously low financing rates. But who's the fairest of them all? As it turns out, that depends entirely on where you live. The crew over at Kicking Tires has compiled average loan interest rates from across the country and organized the data into the incredibly handy map you see above.

As it turns out, car buyers in places like Los Angeles and Las Vegas are getting the short end of the financial stick when it comes to their loans, with buyers dealing with 9.55 percent and 9.58 percent APR, respectively. Meanwhile, those in places like Oklahoma City are shouldering a much more reasonable 3.65 percent APR.

The Kicking Tires study is based on a $22,000 loan for 60 months, with 10 percent down. It also assumes a borrower with a credit score of 700 or better.

[Source: Kicking Tires]

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    • 1 Second Ago
      • 4 Years Ago
      Wow, both places are pathetic. Maybe I missed something, but if I were buying a new vehicle I wouldn't expect to take on more than 0.9% rate. But then again, considering my credit score, household income, etc., maybe that is the key.
      • 4 Years Ago
      buy only what you can afford.... cash works well. 0 interest and they will cut the asking price because they have less paperwork. My friend got a car (used) with an asking price of 7,900 for 4,200. Zero interest, zero payments.
      • 4 Years Ago
      Well California and Nevada were hit very hard by economic slowdown, while Oklahoma has a strong oil sector that has shielded the state. So people who live in CA and NV would have a higher chance of losing a job which leads to higher risk, which leads to higher rates.

      Also since 90% (half joking) of people in California work for Government which i believe has a 20 billion dollar short fall in budget. That hole will have to be plugged in by firing even more people.
      • 4 Years Ago
      That chart is terrible. Why did they use 4 shades of blue that are so close in value?! Sheesh.
      • 4 Years Ago
      All this proves is that buyers from Las Vegas and Los Angeles are statistically more likely to default.

      Maybe they are buying cars they can't afford?
        • 4 Years Ago
        What are you talking about?! All those people driving Bimmers, Mercs, Lexus and Audi's are all highly successful professionals that are buying well below their means...

        oh wait... What's that you say? Most are baristas? Oh... never mind.

        I make a sizable income and I drive a 2006 Subi Legacy GT yet since I bought it used through a credit union, I pay about 8%
        • 4 Years Ago
        I was going to say...

        People in smaller areas tend to be more modest with their spending and use of credit.

        Boom cities and coastal areas tend to have high hopes and overinflated values which in turn lead to riskier and more frequently defaulted loans.
        • 4 Years Ago
        People from LA and Vegas overstretching their credit to purchase expensive premium brand vehicles? Whaaat? That's crazy talk.

        On another note, Seattle? Seriously?
      • 4 Years Ago
      The credit union I use is offering something like 3.49%.

      It has to be a 2008 or newer car though...
        • 4 Years Ago
        Credit unions are the way to go. I just finally closed out all my commercial bank account.
        Get in a credit union, pay your bills on time, maintain a good credit rating, and live is much easier and cheaper.
        • 4 Years Ago
        What i don't understand is why would anyone offer a lower rate than the car company itself. Banks and Credit unions make money only off the interest but car companies can make money charging 0% because someone buys their product. Just pure curiosity.
      • 4 Years Ago
      Charts like this are meaningless. This map is just over-generalized information designed to let people make false correlations... but it's fun to do that.
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