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Created with Fabric.js 1.4.5 The average interest rate on an auto loan for 48-months is 2.99%according to Vehicle Loans FICO® score APR [?] Monthly payment720-850 3.217% $222690-719 4.603% $228660-689 6.711 $238620-659 10.321% $255590-619 15.285% $280500-589 16.609% $287 A car loan default is the failure to make an agreed upon payment to the finance company that lent the money for the auto purchase.Causes credit score to be harmed. Once you are in default, the laws of most states permit the creditor to repossess your car at any time, without notice,and to come onto your property to do so. But when seizing the vehicle, your creditor may not commit a breach of the peace. In some states, that means using physical force, threats of force, or even removing your car from a closed garage without your permission. Almost everything about your use of credit, including amounts borrowed, credit lines, opened and closed accounts, application inquiries, and how well youve honored your obligations on mortgages, credit cards, car loans, and other types of credit. Bankruptcies, foreclosures, liens, and collections are also here. Public record information like court judgments might also appear. Other basics include our Social Security number, date of birth, and past addresses. Credit History The average American has nearly $15,608 in credit-card debt. Average time to pay off a car loan is 51/2 years.
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