Will a 750 Credit Score Get Me an Auto Loan with a low interest rate?

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Q: My intention is to apply for an auto loan tomorrow, however I’ve got a credit score of 750. Am I going to be able to get a car loan with a low interest rate?

A: It’s quite possible to apply successfully for an auto loan with a 750 credit score and not get sky-high interest rates. Look at this finance data from the guys at Experian:

With a credit score of around 750, you’ll have the best probability of approval for auto finance if you put in a request for vehicle loans online. This means that it is easy to do a comparison of the offers from a huge variety of lenders. If you’re not sure where to start this, have a look at our useful list of services.

Required Credit Score
580
Amounts
Up to $40,000
APR
Starting at 5.99%
Bad credit
Allowed
Loan Terms
2 months to 5 years
Amounts
Up to $40,000
APR
Starting at 5.34%
Bad credit
Allowed
Loan Terms
2 months to 6 years
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The same answer holds good for auto loans for borrowers having credit score 751, 752, 753, 754, 755, 756, 757, 758 and 759.

How to improve your credit score & interest rate

While you may successfully put in an application for a personal loan or an auto loan with a 750 credit score, you could be entitled to a slightly more affordable rate of interest if you pay a more substantial deposit on the vehicle.

Allow me to share a few suggestions for potentially raising your credit score when applying for a car / auto loan:

  • Credit cards, reduce your credit amount to below thirty percent.
  • Order free credit reports, check them out for flaws and challenge those that you find.
  • Certain loan creditors will occasionally forgive one-time mistakes and expunge them from your credit history. See if this is applicable to your situation.
  • Sign up to Experian Boost to have your telephone and utility bill payments counted towards your credit scores.
  • Get current on as many bills and outstanding debts as is possible.