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What's the average APR on a new car loan for a prime credit score?

I want to get a new car loan, but I don't want to overpay. What's the average APR on a loan if I have a credit score of 770?

avatar
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
A credit score of 770 puts you into the prime range, which will usually get you in the second tier of
car loan
 interest rates. You might want to wait until you boost your score above 780 before you try to get a car loan if you want better interest rates.
If that’s not a possibility, you can still get a good car loan rate. The average APR on a new car loan for a prime credit score is between 3.48% and 4.21%, although this will differ depending on your
down payment
 amount and how long your car loan is. The longer the loan, the smaller the monthly payments, but the more interest you’ll pay. Vice-versa for short-term loans.
Remember that lenders will require full coverage car insurance for financed vehicles. You can save money on car insurance with the number-one-rated car insurance app,
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