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Any predictions into what APRs will be in Q1 of 2024?

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Shiva78
Contributor

Any predictions into what APRs will be in Q1 of 2024?

I'm looking into trading my current truck and getting a new one Q1 of next year.

Any ideas on what APRs might be then?

I have a 24 F-150 on order.  Probably won't be built and delivered until March, April or May next yr.

Message 1 of 7
6 REPLIES 6
JoeRockhead
Senior Contributor

Re: Any predictions into what APRs will be in Q1 of 2024?

Until the Fed cuts rates (which many are predicting might come in the spring of '24), auto loan rates (and others) may continue to go up... Keep you fingers crossed!  

Message 2 of 7
pizzadude
Credit Mentor

Re: Any predictions into what APRs will be in Q1 of 2024?

There's a lot of discussion and links to several sites here in this thread.

 

My personal guess is that rates probably won't spike considerably higher than they are now, and I'd also be surprised if they also dropped significantly.  

 

 

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 3 of 7
98Supra
Established Member

Re: Any predictions into what APRs will be in Q1 of 2024?


@Shiva78 wrote:

I'm looking into trading my current truck and getting a new one Q1 of next year.

Any ideas on what APRs might be then?

I have a 24 F-150 on order.  Probably won't be built and delivered until March, April or May next yr.


Based on your delivery date, I think you have winning odds of interest being lower than it is now. I was given 8.99% as a tier 1 on a new GM vehicle. I am going to refi and bring that down to 6%ish, but still, insanely high compared to what interest rates we're at even a year ago. I think the economy will be bleeding by your April-May delivery and you'll see something much better than current rates. 



Message 4 of 7
CreditCuriosity
Moderator Emeritus

Re: Any predictions into what APRs will be in Q1 of 2024?


@98Supra wrote:

@Shiva78 wrote:

I'm looking into trading my current truck and getting a new one Q1 of next year.

Any ideas on what APRs might be then?

I have a 24 F-150 on order.  Probably won't be built and delivered until March, April or May next yr.


Based on your delivery date, I think you have winning odds of interest being lower than it is now. I was given 8.99% as a tier 1 on a new GM vehicle. I am going to refi and bring that down to 6%ish, but still, insanely high compared to what interest rates we're at even a year ago. I think the economy will be bleeding by your April-May delivery and you'll see something much better than current rates. 


Depending whom you fiannce through dealer.. Rough guess would be 6-10% tier 1 (perfect credit) and downhill from there

Message 5 of 7
sccredit
Valued Contributor

Re: Any predictions into what APRs will be in Q1 of 2024?

I wouldn't plan on them any lower than they are today, maybe a tick higher. I, personally, don't believe for a second that rates will drop in early 2024. Maybe late 2024 and into 2025 but that seems early for me even. 

Message 6 of 7
dunn2500
Established Contributor

Re: Any predictions into what APRs will be in Q1 of 2024?

getting a promo rate from dealer is your best bet, GMC has 0.9 currently but for 36 mo......sure Ford has something, only way to buy a 50k vehicle is cash or low rate.....CU are 5-6% for 60mo I believe, but agree dont see them dropping significanlty for awhile

Message 7 of 7
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