GITNUX MARKETDATA REPORT 2024

Statistics About The Average Car Loan Interest Rate For 730 Credit Score

With sources from: equifax.com, creditcards.com, businessinsider.com, fool.com and many more

Statistic 1

The average car loan interest rate for those with a 730 credit score is 3.39%.

Statistic 2

In 2021, the average interest rate for a new-car loan for someone with a credit score of 720-850 was 3.65%.

Statistic 3

The average APR for a car loan for a borrower with a credit score of 720-850 buying a new car was 3.2%.

Statistic 4

The national average for US auto loan interest rates with a credit score of 720-850 is 2.99%.

Statistic 5

Credit scores between 690-719 receive an average APR of 4.6% for new car loans.

Statistic 6

Those with excellent credit can expect to receive an average APR of 3.6% for a new car.

Statistic 7

Having a 730 credit score means getting on average a 4.4% interest rate for a 60-month loan.

Statistic 8

Car buyers with credit scores over 720 could expect to be offered rates around 3.19% on average.

Statistic 9

The difference between the lowest and highest auto loan rates for borrowers with excellent credit (720-850) can exceed 3 percentage points.

Statistic 10

On a $20,000, five-year loan, that 4.19% interest rate adds an extra $2,099 to the cost of the car.

Statistic 11

Those with a credit score above 720 have an average APR of 3.65% for a new car and 4.29% for a used one.

Statistic 12

The average interest rate on a 48-month car loan was 5.5%, but for consumers with credit scores over 720, the average rate was just 3.4%.

Statistic 13

For scores over 680, the APR rate for a 60-month new auto loan is around 4.13%.

Statistic 14

The average car loan interest rate for someone with a 720 to 850 credit score is 3.683% for a new car.

Statistic 15

The average interest rate for a car loan for someone with a credit score between 720-780 is about 3.69%.

Statistic 16

The average credit score for all auto loan borrowers is around 703 which indicates that someone with a credit score of 730 is likely to see APR loan rates approximating 3.39%.

Statistic 17

Current auto loan rates for a credit score of 730-759 fall between 1.99% and 5.2%.

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In this post, we will explore the various statistics surrounding car loan interest rates for individuals with a credit score of 730. Understanding these figures can provide valuable insight for those looking to secure a car loan and make informed financial decisions. From the average interest rates to the potential cost implications, we will break down the data to help you navigate the world of auto financing with confidence.

Statistic 1

"The average car loan interest rate for those with a 730 credit score is 3.39%."

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Statistic 2

"In 2021, the average interest rate for a new-car loan for someone with a credit score of 720-850 was 3.65%."

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Statistic 3

"The average APR for a car loan for a borrower with a credit score of 720-850 buying a new car was 3.2%."

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Statistic 4

"The national average for US auto loan interest rates with a credit score of 720-850 is 2.99%."

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Statistic 5

"Credit scores between 690-719 receive an average APR of 4.6% for new car loans."

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Statistic 6

"Those with excellent credit can expect to receive an average APR of 3.6% for a new car."

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Statistic 7

"Having a 730 credit score means getting on average a 4.4% interest rate for a 60-month loan."

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Statistic 8

"Car buyers with credit scores over 720 could expect to be offered rates around 3.19% on average."

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Statistic 9

"The difference between the lowest and highest auto loan rates for borrowers with excellent credit (720-850) can exceed 3 percentage points."

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Statistic 10

"On a $20,000, five-year loan, that 4.19% interest rate adds an extra $2,099 to the cost of the car."

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Statistic 11

"Those with a credit score above 720 have an average APR of 3.65% for a new car and 4.29% for a used one."

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Statistic 12

"The average interest rate on a 48-month car loan was 5.5%, but for consumers with credit scores over 720, the average rate was just 3.4%."

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Statistic 13

"For scores over 680, the APR rate for a 60-month new auto loan is around 4.13%."

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Statistic 14

"The average car loan interest rate for someone with a 720 to 850 credit score is 3.683% for a new car."

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Statistic 15

"The average interest rate for a car loan for someone with a credit score between 720-780 is about 3.69%."

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Statistic 16

"The average credit score for all auto loan borrowers is around 703 which indicates that someone with a credit score of 730 is likely to see APR loan rates approximating 3.39%."

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Statistic 17

"Current auto loan rates for a credit score of 730-759 fall between 1.99% and 5.2%."

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Interpretation

In summary, the statistics show that individuals with a credit score of 730 can expect to receive competitive average interest rates on car loans, typically ranging between 3.2% and 4.4%. The difference in interest rates for borrowers with excellent credit can be significant, up to 3 percentage points. Higher credit scores generally correlate to lower interest rates, with those above 720 seeing rates as low as 2.99%. It is important for borrowers to shop around and compare offers to find the most favorable terms and minimize the cost of financing a car purchase.

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