A credit score of 700 or higher will get you a really great interest rate according to your650score.com. If you have anything lower, that isn’t to say that you cannot get approved for a low interest rate. You still have some options that you can consider. You can also bring on a co-signer for your vehicle loan if that makes you feel more comfortable. This may help lower your interest rate as well. A credit score between 400-500 will not likely get you an interest rate that you will consider “low.”
Credit is not the only thing that will determine what your interest rate will be on your vehicle loan. It will depend on other factors as well such as if you are taking out a new or used vehicle, or even the price for the vehicle that you are purchasing. Interest rates also vary depending on if the vehicle is being owned or leased. If you lease a vehicle, you will need to make sure that you have great credit, because leasing can be a pretty hard thing to do. Auto loans can be pretty tricky when it comes to interest rates, but any credit score that is seen as good, may get you a low rate. For more information about how credit scores affect auto loans visit this site.