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What kind of car financing rate can I get with a 700 credit score?

I want to finance a car, but I'm worried that my 700 credit score isn't good enough. What rate should I expect with this credit score?

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Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
With a 700 credit score, you can expect competitive rates on car financing. Rates will likely fall within the following ranges:
  • 3% to 6% for new cars
  • 5% to 9% for used cars
Keep in mind: Regardless of your credit score, you’ll also need to be able to provide proof of income, and have a good debt-to-income ratio to qualify for competitive rates. 
Your
car loan
rate will also depend on:
  • The length of the loan
  • Any promotional interest rates you can find
Because you’re in the prime range, shopping around will almost certainly get you the best rate possible. 
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