I have a credit score in the low 800s and I'm in the market for a used car. What kind of interest rate can I expect at best for my credit score?
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Used car interest rates
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Last: 2 yr ago by AgsMyDude
Better than most but still high. Use a credit union for pre-approval for the best rate. Then negotiate with the dealer maybe
4% to 5.5% is likely with that credit score. Capital One auto has very competitive rates and will approve you before you go car shopping. I've used their service multiple times in the past few years, and been very happy as to the ease of using their program. GL
Texell had good rates when I was shopping a couple years ago
https://www.texell.org/personal/auto-loans
https://www.texell.org/personal/auto-loans
My CU defines "used" as more than 3 years. Bought a '21 in Jan, got 4.25% as previous clients. Older than 3 years was "used" & a penny more.
Ronnie '88
Yep we got a low 4% with great credit scores from our CU in 2020. Still not great considering the price of car and how much we put down but that's not the world we live in. Dealer beat it but by very little. Then again the car is still valued at more than we bought it for or at least equal.
Depends on term
36 months probably 4-5%
84 months probably 7-8%
36 months probably 4-5%
84 months probably 7-8%
Depends on term and what type of car that you are getting. Recently was quoted 7.3%. Decided to pay cash instead.
We just bought in September. My credit score is over 800 and we got 7.99%. Wasn't too concerned as we will pay it off by Christmas.
Buy from the dealer and get their "discount" for financing with them.
Ensure there is no early payoff penalty
Turn around and refinance with a credit union for a much better rate.
Profit.
Ensure there is no early payoff penalty
Turn around and refinance with a credit union for a much better rate.
Profit.