Financing is available but often requires a large down payment or a co-signer, with interest rates that can exceed 20%. Average Interest Rates by Credit Score (Early 2026)
"Fair" credit that may still qualify for traditional loans but at higher interest rates. good credit for buying a car
Top-tier borrowers who qualify for the lowest possible rates and special promotions, such as 0% APR. Financing is available but often requires a large
Lenders often use Experian's credit tiers to determine risk and interest rates: Lenders often use Experian's credit tiers to determine
Considered "good" credit; most car loans (roughly 69%) are issued to this group.
A for buying a car is generally 661 or higher , which falls into the "prime" category. While there is no universal minimum score required to secure an auto loan, borrowers with scores in this range or better typically receive more competitive interest rates and favorable loan terms. Credit Score Ranges and Their Impact
As of April 2026, average APRs vary significantly based on your credit tier and whether the vehicle is new or used: Credit Tier New Car APR (Avg) Used Car APR (Avg) 4.66%–5.18% Prime (661–780) 6.27%–6.70% Nonprime (601–660) 9.57%–9.83% Subprime (501–600) 13.17%–13.22% Deep Subprime (300–500) Sources: U.S. News and Bankrate Key Factors Beyond Your Score While your score is critical, lenders also evaluate: Average Auto Loan Rates in April 2026 - US News Cars