Average APR for Used and New Cars in 2017
|Credit Score||Average APR for a New Car||Average APR for a Used Car|
|Very Good (750+)||4.95%||3.88%|
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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 Score||Auto Loan Refinance Rate|
|750 or higher||3.39% for 60 months|
|700 to 749||3.39% for 60 months|
|650 to 699||5.49% for 60 months|
What will my interest rate be with a 700 credit score?
Mortgage rates as of February 20, 2020
|FICO® score||APR||Monthly payment *|
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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 range||New car loan||Used car loan|
|Subprime: 501 to 600||12.17%||16.78%|
|Deep subprime: 300 to 500||14.88%||19.62%|
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