Credit score, Average APR, new car, Average APR, used car ; Superprime: 781-850., 5.25%., 7.13%. ; Prime: 661-780., 6.87%., 9.36%. ; Nonprime: 601-660., 9.83%., 13.92%. ; Subprime: 501-600., 13.18%., 18.86%. ; Deep subprime: 300-500., 15.77%., 21.55%.
Loan amount is based on how much you plan on borrowing. Subtract the trade-in value of your current vehicle and the amount of your down payment. Then add the estimated sales tax you’ll need to pay to the purchase price. This will get you to the total loan amount. Loan term is how long you plan on making monthly payments. Most dealerships and lenders offer terms between 24 months to 84 months, or two to seven years. Interest rate is the most important factor when it comes to your auto loan paym...
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PenFed Credit Union is the best overall auto loan lender thanks to... of loan types and competitive rates, according to our research. It offers rates for used car loans as low as 6.49%, and...
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$3,500 · minimum borrowing amount. 1 ; Up to 84-month · 2 · Terms available ; Rates range from 5.42% to 13.01% APR3 · Excellent credit required for lowest rate