On average, the annual percentage interest rate on new vehicles was 6.5% in 2022 and 4.1% in 2021, while for used vehicles it was 10% in 2022 compared to 7.4% in 2021.
Jerome Powell testifies before the Senate Banking, Housing and Urban Affairs Committee on his nomination to become chairman of the U.S. Federal Reserve in Washington, U.S., November 28, 2017.