That’s great—buying a new car is always exciting! Thanks to your hard work on building up your credit score, you should be able to get a good loan with an interest rate of about 3.5%.
As a general rule of thumb, a credit score that’s above 660 is strong enough to secure solid terms. Since your score is well above 700, you’ll be able to get an even better interest rate on your loan.
Based on data from Experian, your credit score falls into the “Prime” category (661-780). Since you’re squarely in the middle of that range, you should expect an APR of about 3.64% on your new car. If you change your mind and go for a used vehicle instead, you’ll be looking at an interest rate closer to 5.35%.
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