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  • Writer's pictureCredit Repair King

How Does My Credit Score Affect the Car Loan?

What do you do when your credit score gets in between you and the car that you want to apply for?

Here is how your car loan affected by the credit score::Credit scoreAPR

New Car APR 

Used Car781-8502.34%3.66%661-7803.48%5.49%601-6606.61%10.49%501-60011.03%17.11%300-50014.59%20.58%

As you can see, a less-than-ideal credit score may not disqualify you from getting a car loan, but having a stellar credit score will allow you to gain better loan terms and lower interest rates. Not convincing enough? A few percentage points might be easily overlooked, but when you apply that percentage difference in terms of thousands of dollars that a typical auto loan is amounted to, the numbers add up quickly! For example, 3.48% of $30,000 is $1,044, whereas 11.03% of $30,000 is a whopping $3309!

Still wondering whether you could get a car with your credit? Let Credit Repair King help you! With over 6 years of experience in credit repair service, we offer financial consultations that allow you to create healthy financial habits that will help you drive that car that you want out of any dealership! Contact Credit Repair King today at (657) 217-4877 for a free consultation.

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