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Chad asked in Business & FinanceCredit · 2 years ago

What can i expect my APR to be with a 750 credit score for a new car?

4 Answers

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  • RICK
    Lv 7
    2 years ago

    Depends on where you borrow the money, the length of the loan and percent down

    Have not checked recently but my credit union is under 3% for any loan 48 months or shorter on which you had 10% or more down

  • nt
    Lv 7
    2 years ago

    Compare credit unions in your area. The fact that you are putting so much down makes the loan less risky.

    Here are Penfeds rates for used cars..

    3.49%

    36 mos $500 - $100,000 $586.37

    3.99%

    48 mos $7,500 - $100,000 $451.86

    4.29% 60 mos $10,000 - $100,000 $371.29

    4.49% 72 mos†

    $15,000 - $100,000 $317.69

    ----------

    New car rates are lower because they are less risky for a lender.

    APR AS LOW AS* TERM LOAN AMOUNT APPROX LOAN PMT.1

    2.49%

    36 mos $500 - $100,000 $721.79

    3.49%

    48 mos $7,500 - $100,000 $559.19

    3.74% 60 mos $10,000 - $100,000 $457.84

  • 2 years ago

    Your credit score makes it more likely that you get the loan. It does not directly affect your interest rate.

    But it does mean that you get a lower rate with less security to back the loan.

    Note that dealers usually arrange a low rate with some lender, more or less passing the debt to the lender for a discount off the amount paid. You might get a better rate from your bank or credit union. What this means is that the price of the car includes the cost of such a transfer, so it's not as clear as it seems.

  • 2 years ago

    750 is a good score but the actual APR rate will be determined by the bank or finance company. At this time, a rate of about 5.5% is average for a brand new car but special promotions might get a better rate. It's best to shop around for the best rates at banks and credit unions, and then compare what you've found with the rate that a dealer offers.

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