Average car loan interest rates by credit scoreThe average auto loan interest rate in the second quarter of 2024 was 6.84% for new vehicles and 12.01% for used vehicles, according to Experian. However, the rate you receive on a car loan will depend on your credit scores. The higher your ...
Auto loan rates by credit score What to know before applying for an auto loan How to manage a car loan FAQs about auto loans Compare auto loan rates in January 2025 Make use of this table to better understand the offerings of Bankrate’s top lenders. Depending on what type of loan...
Min credit score 640 See rates Apply on partner site Hover to learn more about our Bankrate scores.Verified lender See details USED Auto Credit Express: Best for low-income borrowers 3.6 Bankrate Review Hover to learn more about our Bankrate scores. APR from Hover to learn more. Varies by le...
Average auto loan rates by credit score As noted above, many factors go into determining your auto loan’s APR, and rates vary from applicant to applicant. But knowing averages for auto loan rates can give you a benchmark for comparison to your own loan offers. ...
Below you can compare the best 72-month auto loan rates and the lenders that offer them: Best 72-Month Auto Loan Rate LenderLowest 72-month Auto Loan RateMinimum Credit ScoreLoan Amount 1. PenFed Credit Union 5.64%* 650 $500-$150,000 2. myAutoloan 5.69%** 575 $8,000 minimum purchase...
Apply to several lenders for preapproved loan offers, but do it within a two-week timeframe to lessen any impact to your credit score. Using this auto loan calculator, enter interest rates and terms from the loan offers to narrow down your best option. If you’re buying a car from a de...
Minimum credit score of 520 required for auto loans. Minimum 7 year credit file and 3 satisfactory trades. Very competitive rates for new and/or near new vehicles. Decent rates for older used vehicles. Loan Up to 72 month financing. Maximum advance of 115% of wholesale/invoice, includi...
Having a super prime score of 720 or above is truly optimal for the best auto loan rates. According to ValuePenguin, scores at the 720 plus range yielded an average interest rate of 3.6 percent for an auto loan, as of 2018. For consumers with a credit score between 690 and 719, an ...
Tips for Finding the Best Auto Loan Rates There are several things you can do to improve your chances of getting the best rates on auto loans: Know your credit score and where you stand financially. Be prepared to make a sizable down payment. ...
1. Check Your Credit The first step to getting any auto loan is to check your credit score — especially if you think you have bad credit. Knowing can help you set expectations of what rates you may receive and gauge whether a lender is giving you a good deal. It’s also good to ...