Who Has the Best Car Loan Rates?

When it comes to who has the best car loan rates, a lot of it depends on your credit score. That said, there can be a lot of variation in auto loan financing rates among Macon and Byron lenders. Plenty of people shopping for new vehicles are intimidated by the finance process and ask us everything from, “What are the current interest rates for car loans?” to even the basic, “What is auto loan financing?” Get your auto loan financing questions answered at Five Star Chevrolet. 

What is Auto Loan Financing? 

Simply put, auto loan financing means you are taking out a loan with interest to pay for a new vehicle. 

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 Five Star Chevrolet. You can also come in to talk to someone in our finance department.

Save When You Shop at Five Star Chevrolet

Who has the best car loan rates? Savvy Robins Air Force Base drivers know that Five Star Chevrolet has great loan rates and offers excellent pricing at a wide range of price points on everything from the newest models to bargain-priced used vehicles. Start saving right away when you shop our new vehicle specials and used car deals today!