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Is 714 a Good Credit Score for a Car Loan?

I’m getting ready to buy a new car but I need to get a lease or a loan. I think my credit is pretty ok… Is 714 a good credit score to get a good car loan?

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Pat Roache · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
We think your credit score might be a little more than ok! In fact, you should have no problem being approved for a car loan with a credit score of 714.
Here is what you can expect with this good credit score:
  • A car loan interest rate of 3.6% to 4.6% for a new car or 6% or less for a used car.
  • Less monthly interest paid (based on your interest rate).
  • Room to negotiate a
    shorter loan term
    (based on your total monthly payment and budget).
If you can get your score up to 720, you may be able to get even lower interest rates, so pay off some debts and lower those credit limits if you can. The specifics of your loan will also be affected by where you live and the type of car you buy, but rest assured you’re in a good place.
No matter what your credit score is, you’re always in a good place to get more affordable
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