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Capital One rates on used cars

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So, I've been using the Capital One pre-approval website for the past few months now while we ponder our next vehicle purchase.  Our credit scores aren't perfect and the rates reflect that.


However, one thing I'm seeing is significantly higher rates on used vehicles vs. new.  Just wondering if we would also expect that from other finance companies?


As an example, on a new 2019 Jeep Cherokee, I can get a rate of 8.17%


With the same terms on a used (2014) Honda Ridgeline, I'm getting rates of 14-16%

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Most automotive lending companies will charge a higher APR as the vehicle being purchased ages.  Nothing more than an associated risk factor.

Making a loan on a 6 years older vehicle is significantly riskier.

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