Many Grand Junction and Glenwood Springs-area car shoppers want to save money on their next Subaru vehicle purchase and avoid overpaying. With your credit score in mind, Glenwood Springs Subaru created a chart and broke down how to get the best interest rate possible on your next purchase. Learn what is a good car loan rate, the average new and used car loans based on credit scores, and the APR (Annual Percentage Rate) for that average. Then apply for financing to get pre-approved.

Average Credit Score for New CarAnnual Percentage RateAverage Credit Score for Used CarAnnual Percentage Rate
781-8503.17%781-8503.8%
661-7804.03%661-7805.48%
601-6606.79%601-66010.1%
501-60010.98%501-60016.27%
300-50013.76%300-50019.32%

How Do You Get the Best Interest Rate?

Now that you know what is a good car loan rate, many often wonder how to get the best interest rate. Plan ahead by checking your credit history and taking note of the score. Higher scores will get lower interest rates, and lower scores get higher. When visiting Glenwood Springs Subaru near Vail, remember to negotiate. So, what is a good interest rate for a car loan?

Based on the information above, it's between 3.17% and 13.76%, depending on your credit score. Once you have taken a look at this chart, think about the rate you want and get ready to negotiate if you're offered something higher than expected. Also, be careful of the offer. Don't just focus on the monthly car payments and ignore the rest of the deal. Always pay close attention to all of the details.

What is the Average Interest Rate on a Car Loan?

Get a three-year car loan and expect an average interest rate between 3% and 4.5%. However, you may get a different offer because of your credit score and where the loan is coming from. The financial experts at Glenwood Springs Subaru recommend comparing your car loans and interest rates and shop around, or get pre-approved and do your comparison that way.

Get an Auto Loan at Glenwood Springs Subaru!

The finance team at Glenwood Springs Subaru is here to walk you through the car-buying process, help you get pre-approved, and get you behind the wheel of your new or used Subaru vehicle at a great rate. Contact us if you have any questions or would like to schedule an appointment.