Expect rates between 13.1% and 13.3% . Lenders may require proof of stable employment and a cosigner.
Rates jump to roughly 9.6% to 11.3% for new cars. Approval is common, but total loan costs are notably higher. what credit do i need to buy a car
Lenders generally categorize borrowers into tiers, which directly dictate the Annual Percentage Rate (APR) you are offered. As of early 2026, typical averages include: Expect rates between 13
While there is no single "minimum" score required to buy a car, most lenders look for a credit score of to offer competitive interest rates and standard loan terms. You can still qualify with a lower score—even below 500—but you will likely face significantly higher interest rates and stricter requirements, such as a larger down payment. Credit Score Tiers and Interest Rates Approval is common, but total loan costs are notably higher
Average APR is approximately 4.7% to 5.2% for new cars. These borrowers qualify for the best manufacturer incentives, including 0% financing.