Auto Loan Interest Calculator Based On Credit Score. Experians quarterly State of the Automotive Finance Market takes a look at the average auto loan interest rate paid by borrowers whose scores are in various credit score ranges. Enter the detail about your down payment cost of car loan term.
Situational fees such as a late payment fee. Calculate your monthly car payment and see how term interest rate and credit score change. The average auto loan interest rate was 515 for a new car and 969 for a used car according to Experian data from the second quarter of 2020.
For example a buyer with a 750 FICO score may qualify for 85000 at 96 months but a 650 score may be maxed out at 35000 for 72 months.
The range of APRs is 799 to 2999 and your actual APR will depend upon factors including your credit score usage and history the requested loan amount the stated loan purpose and the term of. Todays auto loan rates are displayed in our helpful car loan calculator. How much you plan to borrow. Check out Bankrates Auto Loan Rates for some current average APRs.