GITNUX MARKETDATA REPORT 2024

Statistics About The Average Car Loan Interest Rate For 750 Credit Score

With sources from: finder.com, federalreserve.gov, wallethub.com, myfico.com and many more

Statistic 1

For a 750-799 credit score, the average 48 month car loan rate is around 4.47%.

Statistic 2

For a used car loan, individuals with a 720-850 credit score receive an average interest rate of 3.99%

Statistic 3

For borrowers with a credit score of 720-850, the average APR offered in 2019 was 4.29%.

Statistic 4

In 2020, those with a credit score of 720-850 earned an average interest rate of 3.65% on a 72-month car loan.

Statistic 5

The average APR for a new car loan for those with a credit score over 780 was 4.17% in 2020.

Statistic 6

For a 750-799 credit score range, the average interest rate on a used car loan is 4.48% in 2021.

Statistic 7

As of November 2021, those with a credit score of 720-850 get an average car loan interest rate of 3.27% for new cars.

Statistic 8

The average APR for a used car loan for people with a 780 credit score or higher was 4.4% in 2020.

Statistic 9

In the second quarter of 2020, the average interest rate for a new car loan for people with a credit score of 781-850 was 3.43%.

Statistic 10

Borrowers with excellent credit (score of 740-850) can expect an average APR of 3.2% for a new car loan in 2021.

Statistic 11

In the third quarter of 2019, the national average interest rate for a car loan was 5.27% for those with a credit score of 720 and above.

Statistic 12

For a 750 credit score, the average 36 month used car loan rate is roughly 3.12%.

Statistic 13

The average auto loan rate for a credit score of 781-850 is 2.49% for a new car and 3.08% for a used car.

Statistic 14

Credit scores 750 or above typically qualify for lender's best rates averaging around 3.59% on 60-month new car loans.

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In this post, we explore the average car loan interest rates for individuals with credit scores ranging from 720 to 850. Various statistics reveal the typical APRs and interest rates for both new and used car loans, providing valuable insight into the current lending landscape. Explore the data to better understand the financial implications of your credit score when seeking auto financing.

Statistic 1

"For a 750-799 credit score, the average 48 month car loan rate is around 4.47%."

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Statistic 2

"For a used car loan, individuals with a 720-850 credit score receive an average interest rate of 3.99%"

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Statistic 3

"For borrowers with a credit score of 720-850, the average APR offered in 2019 was 4.29%."

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Statistic 4

"In 2020, those with a credit score of 720-850 earned an average interest rate of 3.65% on a 72-month car loan."

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Statistic 5

"The average APR for a new car loan for those with a credit score over 780 was 4.17% in 2020."

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Statistic 6

"For a 750-799 credit score range, the average interest rate on a used car loan is 4.48% in 2021."

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Statistic 7

"As of November 2021, those with a credit score of 720-850 get an average car loan interest rate of 3.27% for new cars."

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Statistic 8

"The average APR for a used car loan for people with a 780 credit score or higher was 4.4% in 2020."

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Statistic 9

"In the second quarter of 2020, the average interest rate for a new car loan for people with a credit score of 781-850 was 3.43%."

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Statistic 10

"Borrowers with excellent credit (score of 740-850) can expect an average APR of 3.2% for a new car loan in 2021."

Sources Icon

Statistic 11

"In the third quarter of 2019, the national average interest rate for a car loan was 5.27% for those with a credit score of 720 and above."

Sources Icon

Statistic 12

"For a 750 credit score, the average 36 month used car loan rate is roughly 3.12%."

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Statistic 13

"The average auto loan rate for a credit score of 781-850 is 2.49% for a new car and 3.08% for a used car."

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Statistic 14

"Credit scores 750 or above typically qualify for lender's best rates averaging around 3.59% on 60-month new car loans."

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Interpretation

In summary, individuals with credit scores ranging from 720 to 850 generally enjoy lower average car loan interest rates compared to those with lower credit scores, with rates varying based on factors such as the type of car being financed and the length of the loan term. These statistics highlight the importance of maintaining a good credit score in order to access more favorable loan terms and potentially save money over the life of the loan. There is also evidence of a slight decrease in average interest rates for car loans over the years, suggesting a trend towards more competitive rates for borrowers with higher credit scores.

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