What is a good APR for a used car with good credit?

What is a good APR for a used car with good credit?

What is a good APR for a car loan with my credit score and desired vehicle? If you have excellent credit (750 or higher), the average auto loan rates are 5.07% for a new car and 5.32% for a used car. If you have good credit (700-749), the average auto loan rates are 6.02% for a new car and 6.27% for a used car.

What car interest rate can I get with a 750 credit score?

For a 750 credit score, the average auto loan rate is about 3.48 percent for new cars and 5.49 percent for used cars. Both of these rates are very good compared to the available range.

What kind of car interest rate can I get with a 700 credit score?

A 700 credit score puts you firmly in the prime range of credit scores, meaning you can get a competitive rate as long as you shop around, have good income, and have a solid debt-to-income ratio. A 700 credit score gets an average car loan interest rate of 3% to 6% for new cars and 5% to 9% for used cars.

What is the highest interest rate for a used car?

What are used car loan interest rates? Used car interest rates range from 3.61 percent to 19.87 percent for most borrowers, according to the most recent statistics from Experian. Used car finance rates tend to be higher than those offered for new car purchases.

What is the interest rate for a vehicle loan if you have a 600 credit level score?

A target credit score of 661 or above should get you a new-car loan with an annual percentage rate of around 3.64% or better, or a used-car loan around 5.35%….Better credit means lower costs.

Credit score	Average APR, new car	Average APR, used car
Nonprime: 601-660.	6.07%.	9.80%.
Subprime: 501-600.	9.41%.	15.96%.

Is 706 a good credit score for a car loan?

A 706 credit score is considered a good credit score by many lenders. “Good” score range identified based on 2021 Credit Karma data. With good credit scores, you might be more likely to qualify for mortgages and auto loans with lower interest rates and better terms.

What is a good interest rate to buy a car?

The average auto loan rate is 3.86% for new cars and 8.21% for used cars, but shop around to get the best deal….Average car loan interest rates.

Credit score	Average APR, new car	Average APR, used car
Prime: 661-780.	3.51%.	5.38%.
Nonprime: 601-660.	6.07%.	9.80%.
Subprime: 501-600.	9.41%.	15.96%.

Is 25 interest rate high for a car?

Car loan interest rates should not exceed 25%. But because car loan rates vary, what might be too much interest on a car loan for one person might actually be a very low rate for another. Car loan APRs range from 0% to 25% or higher since they are largely determined by your credit score.