Will a 720 Credit Score Get Me an Auto Loan with a low interest?

Go to best loans »

Advertiser Disclosure: CompareAuto.loan may receieve compensation for the products listed. Read our full Advertiser Disclosure

Q: I’m aiming to try for an auto loan this week with low interest, however my credit score is at 720. Will that be high enough to obtain a car loan with low interest?

A: It’s without doubt possible to apply successfully for an auto loan with a 720 credit score and get offers of low interest rates. Look at this loan data which comes directly from Experian:

If you’ve got a credit score somewhere around 720, you’ll have the best chance of approval for a loan if you submit an application for vehicle loans online. Taking this option makes it actually possible to compare the prices from a huge choice of loan companies. If you’re not certain how to begin, look at our list of recommendations.

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 »

The very same solution works perfectly for auto loans for folks with credit score 721, 722, 723, 724, 725, 726, 727, 728 and 729.

How to improve your credit score & interest rate

While you’re able to successfully put in a request for a personal loan or auto loan with a 720 credit score, you may be able to receive a slightly more reasonable interest rate if you pay a larger deposit on the vehicle in question. You also can have a shot at boosting your FICO score.

Let us discuss a few tips for perhaps boosting your credit score before you apply for an auto / car loan:

  • Credit cards, cut down the amount of your credit you’re utilizing below thirty percent.
  • Join Experian Boost to get your telephone and utility payments counted towards your credit scores.
  • Many loan creditors will occasionally forgive one-off issues and expunge them from your record. Check into this if it is relevant in your case.
  • Get on top of as many debts and bills as possible.
  • Request free credit reports, check them for flaws and contest any you discover.