Our Rates
Auto Financing Rates & Terms
Explore representative starting rates and learn about factors that may affect the financing rate and terms available to you.
Rates shown are starting or representative rates only and are subject to lender approval. Actual APR, payment, down payment and loan term depend on factors including credit profile, income, vehicle, amount financed, lender criteria and other application details. Not all applicants will qualify for the lowest advertised rate.
Rates by Credit Tier
Credit profile is one of several factors lenders may consider when determining available rates and terms. The ranges below are illustrative only.
Excellent Credit
Representative starting rate for applicants with strong credit history. OAC.
- Lowest interest rates
- Flexible term options
- Higher loan amounts
- Down payment requirements vary by lender and application
Good Credit
Representative starting rate for applicants with good credit standing. OAC.
- Competitive interest rates
- Multiple term options
- Standard loan amounts
- Down payment requirements vary by lender and application
Fair Credit
Representative starting rate for applicants with fair credit. OAC.
- Applications reviewed individually by participating lenders
- Flexible payment terms
- Credit profile is one of several factors lenders consider
- Down payment requirements vary by lender and application
Bad/No Credit
Representative starting rate for applicants with limited or poor credit history. OAC.
- Applications reviewed individually by participating lenders
- A credit inquiry may be required as part of the review process
- Options may be available for a range of credit situations
- Down payment requirements vary by lender and application
*Rates shown are starting rates and are subject to approval. Your actual rate will depend on your credit profile, income, vehicle, amount financed, down payment, loan term, lender criteria and other application details. Not all applicants will qualify for the lowest advertised rate. OAC = On Approved Credit. Applications are reviewed individually by participating lenders, and a credit inquiry may be required.
What Affects Your Rate?
Several factors influence the interest rate you'll receive
Credit Score
Your credit history and score play a significant role in determining your interest rate.
Down Payment
A larger down payment can help secure a lower interest rate and better terms.
Loan Term
Shorter loan terms may have different rates and higher monthly payments. Longer terms may reduce monthly payments but increase total interest paid.
Other Factors to Consider
Vehicle Age & Mileage
Newer vehicles with lower mileage typically qualify for better rates. Older vehicles or those with high mileage may have slightly higher rates due to increased risk.
Employment & Income
Stable employment history and sufficient income demonstrate your ability to make payments, which can positively impact your rate.
Debt-to-Income Ratio
Lenders look at your existing debt compared to your income. A lower ratio indicates better financial health and may be a factor lenders consider when determining available rates and terms.
Loan-to-Value Ratio
The amount you're borrowing compared to the vehicle's value affects your rate. A larger down payment reduces this ratio and can lower your rate.
Already Have a Loan? Explore Refinancing Options
If your credit profile has changed since you obtained your current loan, refinancing may be worth exploring. Rates, terms and total borrowing costs can differ. Whether refinancing is beneficial depends on the new rate, loan term, fees and total borrowing cost compared with the existing loan.
Potential Reasons to Consider Refinancing
- A different monthly payment may be available
- A different interest rate may be available
- Loan terms may differ from your current financing
- Compare total borrowing costs before deciding
Refinancing does not guarantee a lower rate, lower payment or lower total borrowing cost. Available terms depend on the applicant, vehicle, existing loan and lender criteria.
When Refinancing May Be Worth Exploring
- Your credit profile has changed
- Market rates or available lender programs have changed
- You want to compare different loan terms
- You want to review your current financing costs
Whether refinancing is beneficial depends on the new rate, loan term, fees and total borrowing cost compared with the existing loan.