Will a 780 Credit Score Get Me an Auto Loan with a low rate of interest?

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Q: I am intending to put in a request for an auto loan next week, however I have a 780 credit score. Is that good enough to get a low interest car loan?

A: It is undoubtedly possible to successfully request an auto loan with a 780 credit score and get offers of low interest rates. Look carefully at this information which comes straight from the credit analysis company Experian:

With a credit score near to 780, you can expect to have the best probability of qualifying for an auto loan if you apply for vehicle loans online. Doing so makes it an easy task to compare the prices from a large selection of finance companies. If you are not certain how to begin this process, examine our handy list of companies.

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 exact same response is valid for auto loans for those having a credit score of 781, 782, 783, 784, 785, 786, 787, 788 and 789.

Greatly improve your credit score and interest rate

Despite the fact that it’s possible to successfully put in an application for a personal loan or an auto loan with a 780 credit score, you may be able to receive a more reasonable rate if you’re able to put more cash down on the vehicle in question.

Let me share some ideas for possibly improving your credit score before you apply for an auto / car loan:

  • Request your free credit reports, check them for mistakes and dispute any you discover.
  • Credit cards, reduce your credit liability to less than 30%.
  • Register for Experian Boost so that your telephone and utility payments count towards your credit scores.
  • Get up-to-date on as many debts and bills as you can.
  • Certain lenders are prepared to pardon one-time mistakes and expunge them from your credit history. Establish if this is relevant in your situation.