Auto Loans

QWhat Determines My Auto Loan Interest Rate?
Anterest rates are set according to the condition of your credit. Lenders and auto dealers use a credit rating score and their own internal rating criteria to determine APR to be set for your auto loan. The credit rating score is normally referred to as FICO or Beacon. Prime borrowing is usually a score above "680", and interest rates for a prime customer are generally 9.99% and lower. A score between "525 and 679" is considered special finance or subprime. Subprime lending rates will usually fall between 9% and 24% depending on your score and present personal credit circumstances.