What is a Good Interest Rate for a Car Loan?

Hand Typing Numbers on a Calculator

If you’re considering car financing, you might be wondering, “What is a good interest rate of a car loan?” This is a question that can seem daunting for Bremerton drivers, but there are ways to figure out what interest rate to expect. For starters, we’ve constructed a chart that Bremerton and Port Orchard drivers can use. This tool will help you figure out what average new and used car loans are based upon credit scores and the APR, or Annual Percentage Rate. You can also check out your personal financing options and apply for financing online.

Average Credit Score for New Car Annual Percentage Rate Average Credit Score for Used Car Annual Percentage Rate
781-850 3.17% 781-850 3.8%
661-780 4.03% 661-780 5.48%
601-660 6.79% 601-660 10.1%
501-600 10.98% 501-600 16.27%
300-500 13.76% 300-500 19.32%

How Do You Get the Best Interest Rate?

So, what is a good car loan rate? Based on the chart above, it could be anywhere between 3.17% and 13.76% depending on your credit score. Checking your score before applying for a loan can help, but don’t think your score is your fate. Dealerships like Advantage Nissan are able to assist buyers with a broad range of credit types around the Gig Harbor and Tacoma areas. With information about your credit score and this chart, you can be prepared to negotiate a lower interest rate with a dealer. Also, pay attention to all the factors involved in a loan — not just what your monthly payments will be.

What is the Average Interest Rate on a Car Loan?

The average interest rate on a three-year car loan is around 3% to 4.5%. Naturally, the offer that a Bremerton driver can expect depends upon their credit store, willingness to negotiate and where they get your car loan. Finding out your credit score, shopping around, and getting pre-approved can make all the difference when it comes to getting a reasonable interest rate on your auto loan.

Learn more About Financing at Advantage Nissan

Once Bremerton area drivers have weighed in all these variables, the next step to take is contacting a reliable dealership. The people at our finance center are dedicated to helping you get a reasonable interest rate on one of our vehicles. You can contact us or drop by for a visit. Advantage Nissan can help you stay informed throughout the car-buying process.

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5101 Auto Center Boulevard • Bremerton, WA 98312

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Advantage Nissan 47.56212, -122.6845428.