What is the average interest rate on a car loan with a 600 credit score?

What is the average interest rate on a car loan with a 600 credit 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	6.32%.	9.77%.
Subprime: 501-600	9.92%.	15.91%.

What interest rate can I get with a 600 credit score?

Credit Score of 600: Home Loans

Credit	Score	Rate
	700-719	4.53%
Moderate	675-699	4.71%
	620-674	4.93%
Bad	600 Credit Score	5.36%

Is 607 a good credit score for a car loan?

A 607 FICO® Score is considered “Fair”. Mortgage, auto, and personal loans are somewhat difficult to get with a 607 Credit Score. Lenders normally don’t do business with borrowers that have fair credit because it’s too risky.

Can I buy a car with a credit score under 600?

Get the Best Car Loan A credit score of 600 won’t necessarily keep you from getting an auto loan, but it’s likely to make that loan more expensive. Taking steps to improve your score before you apply for a car loan can put you in the driver’s seat and make it easier to negotiate the best possible loan terms.

Can I get a car with a credit score of 603?

Is 603 a Good Credit Score? A 603 FICO® Score is considered “Fair”. Mortgage, auto, and personal loans are somewhat difficult to get with a 603 Credit Score. Lenders normally don’t do business with borrowers that have fair credit because it’s too risky.

What interest rate can I get on a car loan with a 700 credit score?

Good Credit (700–749) People with good credit scores of 700–749 average an interest rate of 5.07% for a new car and 5.32% for a used car.

What is the average interest rate on a car loan with a 650 credit score?

11.69%
The average car loan interest rate for people with a fair credit score of 650–699 is 11.69% for a new car and 11.94% for a used car.