if my credit score is about 625, what can i expect the interest rate to be on my auto loan?

6 years ago - 5 answers

Best Answer

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Auto finance is what I do for a living and auto loans are based on the following factors;

1. Loan to value.
2. Term.
3. Age of vehicle.
4. Miles on vehicle.
5. Down payment.
6. Time on job.
7. Time at residence.
8. Monthly income before taxes.
9. Credit score/profile.
10. Total debt to income ratio.

Based on the limited amount of information you provided you could be anywhere from around 12.95% to 21% depending on how the above numbers are submitted to the lenders.

With a 625 score (sub-prime) the only way you will get into single didget rates is with a massive down payment.


6 years ago

Other Answers

You're looking double digits about 12-20% depending on the lender. Remember they don't only look at your credit score...but the history associated with it and your overall financial situation. You time @ current job....income...other keep that in mind.

by Anjell - 6 years ago

I have a credit score of about that. And I bought a car and got 12% on my interest. IT's not the best but it's ok.

hope this helps.


by joe - 6 years ago

i've been creeping my credit score up over the last year or so to 620. i've had loans for years with a local bank and I always get auto loans at 8-9%

by tempting_butnothanks - 6 years ago

It's does depend on the credit score, income, debt to income ratio and how long you have been on you job. I would say somewhere around 8.00 to 11.00 %. Which is not that bad but not a good rate. But on certain cars some dealers are giving very low rates with the slow economy. So it could be a lot cheaper than that. I hope this can help.


by banker89 - 6 years ago