What is the current interest rate for car loans? It depends on a few factors, including your credit score and whether you’re purchasing a new or used vehicle. You can apply to multiple lenders, such as banks or local credit unions in McDonough, to determine who has the best car loan rates.
If you want to save yourself the time and effort of comparing interest rates, another option is to obtain financing through the dealership. Instead of finding an auto loan by yourself, the dealership will work with its lending partners on your behalf to find the best solution for your needs. So, what is a good car loan rate? Learn more below with the team at Five Star Mazda.
Current rates depend on your credit score. On average, these are what the credit score to interest rate breakdowns are:
The better your credit, the lower the interest rate. It’s best to keep your credit score in a good spot or raising it when you can. This can mean making small purchases and paying them off right away.
What is a good car loan rate? A good car loan rate can be as low as 3.2% with excellent credit and up to 12.9% with bad credit. When it comes to obtaining a car loan, you can start the process online if you’d prefer. You’d need a few pieces of information on hand, including:
Once you have these things in order, go online to apply for financing through Five Star Mazda. You can also come in to talk to someone in our finance department. Our dealership is a short drive from Milledgeville and Byron.
Simplify the process of finding a car loan and apply for financing at Five Star Mazda today. Our well-connected finance center works with a vast network of lenders and will help you determine who has the best car loan rates. Any questions? Please feel free to connect with us online or at 478-345-8917.
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