What's the a 650 credit score auto loan interest rate?
A 650 credit score auto loan interest rate will vary pending on your lender, your downpayment, your DTI, and the loan terms. The longer your terms of the loan (36 to 60 months) the higher your rates. The commercials you see with low APR percentage rates are for attention grabbers and is most likely possible for borrowers with 750 or higher.
What credit score do you need to buy a car?
“What credit score do you need to get a good deal on an auto loan?” is a better question to ask than “What credit score do you need to buy a car?” A fair credit score of 650 is usually enough to get a car loan. Read to know more on how to get a car loan with a 650 credit score.
What is the average interest rate for a new car loan?
Your score is considered fair, so the average interest rate you can expect to pay is 11.69% for a new car loan. That’s not great. Working on your credit score means your first step is to go over your credit reports and make sure they’re accurate.