Who Has the Best Car Loan Rates?

Car keys and a credit card on top of a signed car loan

Since auto loan rates are dependent on a few factors, a better question is, “what is a good car loan rate for my current situation?” Hamburg drivers should know car loan rates are determined by what vehicle you are interested in purchasing, as well as your personal financial situation. So whether you’re interested in a new Dodge Durango model from Outten CDJR, or a Jeep Compass, the car loan rate may differ. It all depends on what you’re looking to buy.

So, the best place to start is to talk to our finance team here at Outten CDJR, where we’d be more than happy to help you find a car loan that is best for your current budget. You can also look to get a car loan from your bank or credit union. For more information, read on below for our guide the best car loan rates and the current interest rates for car loans.

What is the Current Interest Rate for Car Loans?

With a solid credit history and high credit score, the interest rate on your car loan will be lower. Prior to purchasing a car, it is worth strengthening a poor credit score to secure a lower interest rate. There are a few good habits you can create to ensure your credit score will increase, the most effective being to make small, regular payments on a credit card. Over time, this repeated behavior will improve your score. If you know your score already, you can see what your interest rate may be based on your most recent credit score report:

  • 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

A good credit score is just one of the many ways to ensure a better, smoother experience securing a good car loan rate. If you’re interested in more car buying tips, our finance team is happy to guide you.

Good Car Loan Rates and How to Get One

What is a good car loan rate? Well, with a pristine credit report and history, you could score rates as low as 3.2%. With poor credit, your rates can reach upwards of 12.9%. If you feel comfortable at your place within this range, you can easily apply for financing online to get started. To do so, you’ll need:

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

Apply for a Loan at Outten CDJR

When you’re ready to bring your dream car— like a new Dodge Charger or RAM 1500— home to your Reading garage, visit Outten CDJR and we’ll get you behind the wheel for a test drive and begin the finance conversation. We’ll be sure to clue you into any current vehicle specials or lease deals that could make a new car more possible, sooner. Contact us with any other questions regarding auto loans or their corresponding interest rates. We are here to serve Pottsville drivers like you and get you on the road in a car you love.

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16614 Pottsville Pike • Hamburg, PA 19526

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Open Today! Sales: 9am-8:30pm

Open Today! Service: 7:30am-7pm

Outten CDJR 40.538380, -75.975490.