What's the top tier of credit scores for a car loan?

I want to get the best loan possible and I have a 790 credit score. Is this in the top tier of credit scores? What interest rate should I expect?

Answer
A 790 credit score is excellent! This puts you what’s considered the top tier of credit scores, also known as the super-prime range. You’ll be eligible for the best interest rates around—provided you have steady income that can support the loan and a debt-to-income ratio at or below 43%.
As of September 2021, car loan interest rates for those with superprime credit are 3.24% for new car loans, or 4.08% for used car loans. These are subject to change based on the length of your loan: the shorter you make the loan, the lower the interest rate you’ll get.
Shop around with a variety of lenders to find the lowest rates possible. Businesses to investigate include:
  • Online lenders
  • Banks
  • Credit unions
  • Dealerships
Make sure your car insurance premiums don’t interfere with your ability to pay off your loans. Use Jerry to compare quotes across providers and switch to a cheaper policy.
Eric Schad
Answered on Oct 20, 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.
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