Question: How Much Of A Car Loan Can I Get With A 700 Credit Score?

Average APR for Used and New Cars in 2017

Credit ScoreAverage APR for a New CarAverage APR for a Used Car
Fair (650+)9.72%8.53%
Good (700+)7.02%5.99%
Very Good (750+)4.95%3.88%
Excellent (800+)3.60%2.83%

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What type of car loan can I get with a 700 credit score?

With a credit score between 700 and 709, you are going to qualify for prime loans at a higher interest rate than if you were able to increase your credit score to 780+. Because you are so close to receiving super prime credit score rates it may make sense to consider spending 30, 60, or 90 days building your credit.

What kind of loan can you get with a 700 credit score?

Student loans, car loans, and mortgages can all be refinanced at a lower rate if you have a recently improved credit score.

Refinance old debts.

Credit ScoreAuto Loan Refinance Rate
750 or higher3.39% for 60 months
700 to 7493.39% for 60 months
650 to 6995.49% for 60 months

What will my interest rate be with a 700 credit score?

Mortgage rates as of February 20, 2020

FICO® scoreAPRMonthly payment *
760-8503.217%$1,300
700-7593.439%$1,337
680-6993.616%$1,367
660-6793.830%$1,403

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What is a decent credit score to buy a car?

A good credit score to buy a car is usually above 660, which is the minimum score to be considered a “prime” borrower by Experian. However, there’s no industry-wide, official minimum credit score in order to qualify for an auto loan.

What is the lowest credit score to buy a car?

If you’re a super prime borrower with a credit score of 781 or higher, you can expect to get the lowest rates.

Average car loan rates by credit score.

Credit score rangeNew car loanUsed car loan
Subprime: 501 to 60012.17%16.78%
Deep subprime: 300 to 50014.88%19.62%

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