If your score is below 600, you can still secure financing through specialized subprime lenders or "buy here, pay here" dealerships, though you should expect APRs often exceeding 18%. Using a with better credit or providing a down payment of 10–20% can improve your approval odds and potentially lower your rate. AI responses may include mistakes. Learn more Average Auto Loan Rates in April 2026 - US News Cars
Your credit score directly impacts your Annual Percentage Rate (APR). Higher scores lead to significantly lower total interest paid over the life of the loan. Credit Tier Score Range New Car Avg. APR Used Car Avg. APR 4.66% – 5.18% 6.82% – 7.70% Prime 6.27% – 6.70% 9.06% – 9.98% Nonprime 9.57% – 9.83% 13.74% – 14.49% Subprime 13.08% – 13.22% 13.74% – 19.42% Deep Subprime 15.75% – 16.01% 21.58% – 21.85% [Source: CNBC, Bankrate, US News] Key Factors Beyond Your Score typical credit score to buy a car
: Lenders evaluate your ability to afford monthly payments relative to your gross income, often preferring a DTI below 36%. If your score is below 600, you can