Credit Scores

A 660 credit score qualifies buyers for auto loans, with expected new car APRs ranging from 6.5 to 10.0 percent.

A 650 credit score allows you to buy a car, but lenders view you as moderate risk and charge higher interest rates.

A 640 credit score places borrowers in the fair category, resulting in car loan interest rates from seven to fifteen percent.

A 620 credit score qualifies borrowers for car loans, but lenders typically charge higher interest rates and require conditions.

A 600 credit score falls below the national average of 718 and qualifies buyers for subprime auto loans with higher rates.

A 580 credit score places buyers in the subprime range, resulting in auto loan interest rates up to twenty percent and higher monthly payments.

Car financing with a 560 score involves higher interest rates, larger down payments, and stricter loan terms from lenders.

A 550 credit score allows you to buy a car through subprime lenders and dealership financing programs despite high interest rates.

A 540 credit score places borrowers in the poor range, resulting in higher lender risk and interest rates around eighteen percent.

A car loan with a 520 credit score brings double digit interest rates, higher monthly payments, and larger down payments.