Will a 680 Credit Score Get Me an Auto Loan with a low interest?

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Q: I have to apply for an auto loan in the next few months and my credit score is 680. Will that be sufficient to get a car loan with low interest?

A: It really is possible to successfully get an auto loan with a 680 credit score and not get sky-high interest rates. Look at this finance data which comes directly from Experian:

If your credit score is somewhere around 680, you will have the best luck being eligible for a loan if you put in a request for vehicle loans online. This means that it is very easy to do a comparison of all the prices from a huge range of loan providers. If you aren’t certain where to start, check out our list of services.

Required Credit Score
Up to $40,000
Starting at 5.99%
Bad credit
Loan Terms
2 months to 5 years
Up to $50,000
Individual rates
Bad credit
Loan Terms
6 months to 6 years
« Show more alternatives »

Precisely the same tactic applies to auto loans for borrowers with a credit score of 681, 682, 683, 684, 685, 686, 687, 688 and 689.

Improve your interest rate and credit score

Even though you can successfully apply for an auto loan or a personal loan with a 680 credit score, you may be able to receive a slightly more reasonable interest rate if you put an advance payment down on the car. You could also try to raise your current FICO score.

Listed here are some suggestions for possibly raising your credit score when you need to apply for an auto / car loan:

  • Credit cards, cut down the amount of your credit you are utilizing less than thirty percent.
  • Certain creditors are prepared to excuse one-off mistakes and erase them from your credit history. See if this applies to your situation.
  • Get on top of as many bills and debts as is possible.
  • Get registered on Experian Boost to get your utilities and phone bill payments counted toward your credit rating.
  • Obtain free credit reports, check them out for flaws and dispute those that you uncover.