Edmunds: How to mitigate rising auto loan interest rates

KIFI

Published November 23, 2022 5:12 AM

By RONALD MONTOYA
Edmunds

The Federal Reserve issued its latest interest rate hike in early November. It marks the sixth increase this year and has also pushed auto loan finance rates to their highest since 2008. This will affect car shoppers this holiday season and into 2023 as they contend with fewer low annual percentage rate incentives and more expensive car loans overall. To help shoppers in need of a new or used vehicle in the coming months, Edmunds experts provide a few tips on how to best manage high-interest rates.

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