Who Has the Best Car Loan Rates?

December 12th, 2018 by

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That depends on what kind of car you’re looking at as well as your current financial situation. A better question to ask is: Who has the best car loan rates for me? You can find loans through lenders such as MyAutoLoan, U.S. Bank, and Bank of America to name a few. At Jaguar Palm Beach find the loan that’s right for you and your budget. Contact our finance department today to learn more or apply online.

What is the Current Interest Rate for Car Loans?

Current rates depend on your credit score. On average, these are what the credit score to interest rate breakdowns are:

  • Excellent credit: 850 – 740 = 3.2% interest rate
  • Average credit: 739 – 680 = 4.5% interest rate
  • Sub-par credit: 680 and below = 6.5 – 12.9% interest rate

The better your credit, the lower the interest rate. It’s best to keep your credit score in a good spot or raising it when you can. This can mean making small purchases and paying them off right away.

Car Loans and How to Get One

What is a good car loan rate? A good car loan rate can be as low as 3.2% with excellent credit and up to 12.9% with bad credit. When it comes to obtaining a car loan, you can start the process online if you’d prefer. You’d need a few pieces of information on hand including:

  • Driver’s license and Social Security number
  • Employment verification
  • Proof of income
  • Proof of assets

Once you have these things in order, go online to apply for financing through Jaguar Palm Beach. You can also come in to talk to someone in our finance department.

Apply for a Loan at Jaguar Palm Beach

View our new vehicle specials as well as lease deals to learn how you can make purchasing or leasing a new vehicle more affordable. Contact us today to find out your options as well as our current loan rates, and check out some of the exciting things happening in Palm Beach like the Kips Bay Decoration Show!


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