Can a car dealer tell me my APR before I actually apply for financing?

Can a dealer give me an estimate of my APR? I don't want to rack up hard inquiries when applying for a car loan. However, I do what to get a rough estimate of what my interest rate and payments might be like.

Answer provided by
Eric Schad
Answered on Jul 15, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
“The dealer should be able to give you a ballpark of what your interest rate and monthly payment might be if you provide truthful statements about your:
  • credit score
  • income
  • current debt
Keep in mind this estimate it’s not written in stone.
Your best plan might be to get preapproval from a lender, as they may only do a soft inquiry on your credit report at first. This means your credit score won’t drop as much.
Ask about preapproval and you may get the answers you need.”

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