fbpx

Best Auto Loan Rates with a Credit Score of 680 to 689


Mark B Huntley Headshot

By Mark B. Huntley, Esq.

Last updated 11/04/2019


Advertiser Disclaimer - Some links on this page may pay us advertising fees.

Summary:  A review of the best auto loan rates for new, used & refinanced vehicles based on credit scores between 680 to 689.

A credit score in the range of 680 to 689 is a solid score that will let you qualify for prime car and truck loan rates.

Deciding where you will obtain your financing will play a big role in the chances of getting the best rates possible.

We will discuss the advantages and disadvantages of getting your auto loan through dealer financing, your local bank, the neighborhood credit union, or from an online lender. 

Current Auto Loan Interest Rates 

Current Dates

60 Month new car

48 Month New Car

36 Month Used Car

11/13/2019

4.59%

4.55%

5.11%

11/6/2019

4.59%

4.55%

5.11%

10/31/2019

4.61%

4.58%

5.11%

10/23/2019

4.61%

4.57%

5.11%

10/16/2019

4.61%

4.57%

5.11%

10/9/2019

4.63%

4.60%

5.12%

10/2/2019

4.61%

4.57%

5.15%

9/25/2019

4.61%

4.57%

5.15%

9/18/2019

4.62%

4.58%

5.13%

9/11/2019

4.62%

4.58%

5.13%

9/4/2019

4.58%

4.54%

5.09%

8/28/2019

4.63%

4.58%

5.14%

8/21/2019

4.63%

4.59%

5.16%

8/14/2019

4.63%

4.59%

5.16%

8/7/2019

4.66%

4.60%

5.17%

7/31/2019

4.66%

4.60%

5.17%

Car loan interest rates provided by Bankrate.

Usually, the best interest rates are given to people who purchase new cars with vehicle refinancing interest rates closely behind.

If you decide to purchase a used car, understand that lender’s charge about 2% more than new car rates for used auto loans.

We will review what your monthly car payment will be if you obtain any of these three types of loans based on how much you need to borrow. 

Disclaimer: "Credit score" refers to FICO score in this article.  If you have a different score (i.e. VantageScore), that does not likely equal your FICO.  For example, a 682 VantageScore could equal any FICO score... 681, 685, 688?  Who knows?  You can get your FICO score here.

Can I get a car loan with a credit score of 680, car loan interest rate with 680 credit score, 680 credit score car loan, 680 credit score auto loan, interest rate on car loan with 680 credit score, car loans with 680 credit score, average interest rate for car loan with 680 credit score, car loan with 680 credit score, 680 credit score auto loans, motorcycle loan 680 credit score, boat loan 680 credit score, rv loan 680 credit score, truck loan 680 credit score, trailer loan 680 credit score, automobile loan 680 credit score, auto loan with 680 credit score, car loan interest rates with 680 credit score, auto loans 680 credit score, auto loan rate with 680 credit score, buying a car with 680 credit score, car loans 680 credit score, auto loan 680 credit score, can I get a car loan with a 680 credit score, auto loan credit score 680, auto loan 680 fico score, 680 fico score auto loan, fico score 680 auto loan, car loan 680 fico score, 680 fico score car loan, fico score 680 car loan, auto loan 680 vantagescore, 680 vantagescore auto loan, vantagescore 680 auto loan, car loan 680 vantagescore, 680 vantagescore car loan, vantagescore 680 car loan, auto loans credit score 680, car loans credit score 680, 680 credit score auto loan interest rate, car interest rate with 680 credit score, car loans with a 680 credit score, getting a car loan with 680 credit score, car loans for credit score under 680, can I get a car loan with a 680 credit score, 680 credit score car loan interest rate, credit score 680 car loan, auto loans for 680 credit score, get a car loan with a 680 credit score, car loans for 680 credit score, car loan 680 credit score, can i buy a car with a 680 credit score, average car interest rate for 680 credit score, credit score 680 auto loan, auto loan for 680 credit score.

Auto Loan Rates For A New Car - 680 to 689 Credit Score

Don't be tricked into applying for the click bait advertisements promising unbelievably low APR percentage rates on your next new car auto loan.

Those rates are for people with Super Prime Credit Scores of 800+

You probably won't qualify for those offers within our credit score range, such as 683, 684, or 686.

But it gets worse!

These same companies use deceptive advertising practices to lure you in and  charge you a much higher interest rates than what you could have gotten from a reputable lender. 

The interest rates we use in our sample auto loan monthly payment charts, are current rates for prime borrowers, like you, with credit scores in the 680's, such as 682, 683, and 687.

If you have a credit score in this range than this article was written just for you!  

Can I get a car loan with a credit score of 681, car loan interest rate with 681 credit score, 681 credit score car loan, 681 credit score auto loan, interest rate on car loan with 681 credit score, car loans with 681 credit score, average interest rate for car loan with 681 credit score, car loan with 681 credit score, 681 credit score auto loans, motorcycle loan 681 credit score, boat loan 681 credit score, rv loan 681 credit score, truck loan 681 credit score, trailer loan 681 credit score, automobile loan 681 credit score, auto loan with 681 credit score, car loan interest rates with 681 credit score, auto loans 681 credit score, auto loan rate with 681 credit score, buying a car with 681 credit score, car loans 681 credit score, auto loan 681 credit score, can I get a car loan with a 681 credit score, auto loan credit score 681, auto loan 681 fico score, 681 fico score auto loan, fico score 681 auto loan, car loan 681 fico score, 681 fico score car loan, fico score 681 car loan, auto loan 681 vantagescore, 681 vantagescore auto loan, vantagescore 681 auto loan, car loan 681 vantagescore, 681 vantagescore car loan, vantagescore 681 car loan, auto loans credit score 681, car loans credit score 681, 681 credit score auto loan interest rate, car interest rate with 681 credit score, car loans with a 681 credit score, getting a car loan with 681 credit score, car loans for credit score under 681, can I get a car loan with a 681 credit score, 681 credit score car loan interest rate, credit score 681 car loan, auto loans for 681 credit score, get a car loan with a 681 credit score, car loans for 681 credit score, car loan 681 credit score, can i buy a car with a 681 credit score, average car interest rate for 681 credit score, credit score 681 auto loan, auto loan for 681 credit score.

Fun Fact: The average FICO credit score for the U.S. was 681 according to the Blue Water Credit.

If you have a credit score around 682 to 685, it is considered a prime credit score, which includes ranges from 660 to 780.

Generally, all people in this credit range will be offered similar interest rates.

As you move into the super prime market with your credit score rising to 800 or 825, you would be eligible for the absolutely best rates. 

If you are interested in improving your credit score, Credit Knocks offers a 90 day Credit Sprint Challenge to get that score kick started and moving up! 

Estimated Monthly Payments For New Car Loan Of $20,000 by Credit Score

Credit Score

3 Year 

(36 months)

5 Year

(60 months)

7 Year

(84 months)

680

$595

$373

$279

681

$595

$373

$279

682

$595

$373

$279

683

$595

$373

$279

684

$595

$373

$279

685

$595

$373

$279

686

$595

$373

$279

687

$595

$373

$279

688

$595

$373

$279

689

$595

$373

$279

*Sample Quote For Credit Scores of 680 to 689.  Single digit credit score changes don't change the payment, so a 681, 685, and 688 score should all cost the same.   Assumes $2,000 down payment.  Scores sourced from Nerd Wallet site and are accurate as of 7/8/19.  All loan payment amounts are based on a new car loan APR interest rate of 4.56% for prime borrowers with a credit score of 660 to 780.  The loan terms included in this chart are for 3 years (36 months), 5 years (60 months), and 7 years (84 months). However, speak to your lender about additional loan options for new, used, or refinancing.  Don't forget to ask about their auto  loan payment terms that cover; 1 year (12 months), 2 years (24 months), 4 years (48 months), 6 years (72 months), 8 years (96 months), 9 years (108 months), and 10 years (120 months). This is not an offer for a loan or a loan approval. Rates and stipulations change by state, income, credit score, and a variety of other factors. For informational purposes only.  

Soft credit inquiry.  Up to 4 offers in minutes.

Estimated Monthly Payments for Other New Car Loan Amounts (10k - 30k)

New Auto Loan Amount

3 Year 

(36 months)

5 Year

(60 months)

7 Year

(84 months)

$10,000

$298

$187

$139

$15,000

$447

$280

$209

$20,000

$595

$373

$279

$25,000

$744

$467

$348

$30,000

$893

$560

$418

Sample Quote For Credit Scores Of 680, 684, to 686, & 688: Assumes $2,000 down payment.  Scores sourced from Nerd Wallet site and are accurate as of 7/08/19.  All loan payment amounts are based on a new car loan APR interest rate of  4.56% for prime borrowers with a credit score of 660 to 780.  The loan terms included in this chart are for 3 years (36 months), 5 years (60 months), and 7 years (84 months). However, speak to your lender about additional loan options for new, used, or refinancing. Don't forget to ask about their car loan payment terms that cover; 1 year (12 months), 2 years (24 months), 4 years (48 months), 6 years (72 months), 8 years (96 months), 9 years (108 months), and 10 years (120 months). This is not an offer for a loan or a loan approval. Rates and stipulations change by state, income, credit score, and a variety of other factors. For informational purposes only.  

Soft credit inquiry.  Up to 4 offers in minutes.

Can I get a car loan with a credit score of 682, car loan interest rate with 682 credit score, 682 credit score car loan, 682 credit score auto loan, interest rate on car loan with 682 credit score, car loans with 682 credit score, average interest rate for car loan with 682 credit score, car loan with 682 credit score, 682 credit score auto loans, motorcycle loan 682 credit score, boat loan 682 credit score, rv loan 682 credit score, truck loan 682 credit score, trailer loan 682 credit score, automobile loan 682 credit score, auto loan with 682 credit score, car loan interest rates with 682 credit score, auto loans 682 credit score, auto loan rate with 682 credit score, buying a car with 682 credit score, car loans 682 credit score, auto loan 682 credit score, can I get a car loan with a 682 credit score, auto loan credit score 682, auto loan 682 fico score, 682 fico score auto loan, fico score 682 auto loan, car loan 682 fico score, 682 fico score car loan, fico score 682 car loan, auto loan 682 vantagescore, 682 vantagescore auto loan, vantagescore 682 auto loan, car loan 682 vantagescore, 682 vantagescore car loan, vantagescore 682 car loan, auto loans credit score 682, car loans credit score 682, 682 credit score auto loan interest rate, car interest rate with 682 credit score, car loans with a 682 credit score, getting a car loan with 682 credit score, car loans for credit score under 682, can I get a car loan with a 682 credit score, 682 credit score car loan interest rate, credit score 682 car loan, auto loans for 682 credit score, get a car loan with a 682 credit score, car loans for 682 credit score, car loan 682 credit score, can i buy a car with a 682 credit score, average car interest rate for 682 credit score, credit score 682 auto loan, auto loan for 682 credit score.

Fun Fact: the average Experian VantageScore in 2019 for the state of Michigan was 682 according to Moneywise.

Best Used Car Rates - 680 to 689 Credit Score

According to a Federally funded study on used auto loans, people with a credit score of 689 were likely to save over $4,000 as compared to a 'non-prime' borrower. 

Grandpa always said that as soon as you buy a new car and drive it off the lot, it loses thousands of dollars in value. 

Stands to reason, that getting the best used car rates should further help save you potentially thousands of dollars by choosing to purchase a used car over a new one.

But here's the thing... 

If your credit score is in the 683's, you should qualify for a prime APR rate, which will be higher than someone with a 780 or 820 credit score.  

Used Auto Loan Amount

3 Year 

(36 months)

5 Year

(60 months)

7 Year

(84 months)

$10,000

$304

$193

$146

$15,000

$456

$290

$219

$20,000

$608

$386

$292

$25,000

$760

$482

$365

$30,000

$912

$580

$438

Sample Quote For Credit Scores Of 681, 682, to 686, & 687: Assumes $2,000 down payment.  Scores sourced from Nerd Wallet site and are accurate as of 7/08/19.  All loan payment amounts are based on a used car loan APR interest rate of 5.97% for prime borrowers with a credit score of 660 to 780.  The loan terms included in this chart are for 3 years (36 months), 5 years (60 months), and 7 years (84 months). However, speak to your lender about additional loan options, including mortgage loan terms that cover; 1 year (12 months), 2 years (24 months), 4 years (48 months), 6 years (72 months), 8 years (96 months), 9 years (108 months), and 10 years (120 months). This is not an offer for a loan or a loan approval. Rates and stipulations change by state, income, credit score, and a variety of other factors. For informational purposes only.  

Soft credit inquiry.  Up to 4 offers in minutes.

Can I get a car loan with a credit score of 683, car loan interest rate with 683 credit score, 683 credit score car loan, 683 credit score auto loan, interest rate on car loan with 683 credit score, car loans with 683 credit score, average interest rate for car loan with 683 credit score, car loan with 683 credit score, 683 credit score auto loans, motorcycle loan 683 credit score, boat loan 683 credit score, rv loan 683 credit score, truck loan 683 credit score, trailer loan 683 credit score, automobile loan 683 credit score, auto loan with 683 credit score, car loan interest rates with 683 credit score, auto loans 683 credit score, auto loan rate with 683 credit score, buying a car with 683 credit score, car loans 683 credit score, auto loan 683 credit score, can I get a car loan with a 683 credit score, auto loan credit score 683, auto loan 683 fico score, 683 fico score auto loan, fico score 683 auto loan, car loan 683 fico score, 683 fico score car loan, fico score 683 car loan, auto loan 683 vantagescore, 683 vantagescore auto loan, vantagescore 683 auto loan, car loan 683 vantagescore, 683 vantagescore car loan, vantagescore 683 car loan, auto loans credit score 683, car loans credit score 683, 683 credit score auto loan interest rate, car interest rate with 683 credit score, car loans with a 683 credit score, getting a car loan with 683 credit score, car loans for credit score under 683, can I get a car loan with a 683 credit score, 683 credit score car loan interest rate, credit score 683 car loan, auto loans for 683 credit score, get a car loan with a 683 credit score, car loans for 683 credit score, car loan 683 credit score, can i buy a car with a 683 credit score, average car interest rate for 683 credit score, credit score 683 auto loan, auto loan for 683 credit score.

Fun Fact: The average Experian VantageScore for the states of Illinois and Utah was 683 according to Experian.

Top Auto Refinance Rates

Say you have a credit score of 683 or 688...

You can definitely refinance with this score!

A lot of people miss out on an opportunity to save themselves some money by not considering auto refinancing with a credit score over 680.

The interest rate you initially locked in at the time you purchased your car was based on your credit score at that time and the Federal prime interest rate.

Do not apply for a refinance car loan if your credit score is below 600.

If either of those two factors has changed in your favor, you may be able to refinance with a lower interest rate and save a bunch of money and interest by replacing your old high-interest rate loan.

Depending on the APR of your original loan, you may also be able to keep the original loan payment amount, but cut multiple months or even a year off of the length of time you will have to pay off your loan.

Keep in mind that if your credit score is 600 or below, you probably will not be able to find a better interest rate by refinancing and the new loan will cost you more in interest than the original one. 

Please note that while we're talking about some specific credit scores over 660 in this article, single digits shouldn't impact your refinance decision.  

In other words, whether your score is 683 or 684, or even on the higher end of our range like 685, your resulting rates will likely be very similar. 

Soft credit inquiry.  Up to 4 offers in minutes.

Refinance Auto Loan Amount

2 Year 

(24 months)

4 Year

(48 months)

6 Year

(72 months)

$10,000

$432

$224

$154

$15,000

$648

$335

$231

$20,000

$864

$447

$308

$25,000

$1,080

$559

$386

$30,000

$1,296

$671

$463

Sample Quote For Credit Scores Of 682, 684, to 685, & 687: Assumes no down payment.  Scores sourced from MyAutoLoan.com and are accurate as of 6/12/19.  All loan payment amounts are based on a refinance car loan with an APR interest rate of 3.09% for non prime and prime borrowers with a credit score of 620 to 699.  The loan terms included in this chart are for 2 years (24 months), 4 years (48 months), 6 years (72 months). However, speak to your lender about additional  refinancing loan options, including loan terms that cover; 1 year (12 months),  3 years (36 months), 5 years (60 months), and 7 years (84 months), 8 years (96 months), 9 years (108 months), and 10 years (120 months). This is not an offer for a loan or a loan approval. Rates and stipulations change by state, income, credit score, and a variety of other factors. For informational purposes only.  

Can I get a car loan with a credit score of 684, car loan interest rate with 684 credit score, 684 credit score car loan, 684 credit score auto loan, interest rate on car loan with 684 credit score, car loans with 684 credit score, average interest rate for car loan with 684 credit score, car loan with 684 credit score, 684 credit score auto loans, motorcycle loan 684 credit score, boat loan 684 credit score, rv loan 684 credit score, truck loan 684 credit score, trailer loan 684 credit score, automobile loan 684 credit score, auto loan with 684 credit score, car loan interest rates with 684 credit score, auto loans 684 credit score, auto loan rate with 684 credit score, buying a car with 684 credit score, car loans 684 credit score, auto loan 684 credit score, can I get a car loan with a 684 credit score, auto loan credit score 684, auto loan 684 fico score, 684 fico score auto loan, fico score 684 auto loan, car loan 684 fico score, 684 fico score car loan, fico score 684 car loan, auto loan 684 vantagescore, 684 vantagescore auto loan, vantagescore 684 auto loan, car loan 684 vantagescore, 684 vantagescore car loan, vantagescore 684 car loan, auto loans credit score 684, car loans credit score 684, 684 credit score auto loan interest rate, car interest rate with 684 credit score, car loans with a 684 credit score, getting a car loan with 684 credit score, car loans for credit score under 684, can I get a car loan with a 684 credit score, 684 credit score car loan interest rate, credit score 684 car loan, auto loans for 684 credit score, get a car loan with a 684 credit score, car loans for 684 credit score, car loan 684 credit score, can i buy a car with a 684 credit score, average car interest rate for 684 credit score, credit score 684 auto loan, auto loan for 684 credit score.

Fun Fact: The average Experian VantageScore in 2019 for the state of Virginia was 684 according to Moneywise.

Who has the Best Auto Loan Rates? Credit Unions, Banks, or Online Lenders

Trying to figure out who has the best auto loan rates can feel like an impossible task.

It is natural to want to use your local Credit Union or Bank because you feel loyalty to the financial institution who you trust with your monthly banking needs.

In some instances, going directly through your Credit Union or Bank can be your best bet for the lowest interest rates.

However, local Credit Unions and Banks often times are limited on the loan programs they can offer or can't compete with the lowest online auto loan rates.

You also have to consider the time it takes to go to your local financial institution to obtain a quote for an auto loan.

It seems like for the past 20 years, Banks and Credit Unions have been cutting the numbers of employees there to help you and have been replacing them with fancy ATM machines.

Be Careful!

Be careful if you get an auto loan from a Credit Union or Bank that you have a checking, savings, or CD account with. Some financial institutions require you to sign a document allowing them to take payment without your permission if you do not pay.

In comparison, you can obtain four loan offers within two minutes of filling out a short, one-page application with MyAutoLoan.com.

Even if you decide to see what your Bank or Credit Union has to offer, getting an online lender quote is free and takes next to no time.

Can I get a car loan with a credit score of 685, car loan interest rate with 685 credit score, 685 credit score car loan, 685 credit score auto loan, interest rate on car loan with 685 credit score, car loans with 685 credit score, average interest rate for car loan with 685 credit score, car loan with 685 credit score, 685 credit score auto loans, motorcycle loan 685 credit score, boat loan 685 credit score, rv loan 685 credit score, truck loan 685 credit score, trailer loan 685 credit score, automobile loan 685 credit score, auto loan with 685 credit score, car loan interest rates with 685 credit score, auto loans 685 credit score, auto loan rate with 685 credit score, buying a car with 685 credit score, car loans 685 credit score, auto loan 685 credit score, can I get a car loan with a 685 credit score, auto loan credit score 685, auto loan 685 fico score, 685 fico score auto loan, fico score 685 auto loan, car loan 685 fico score, 685 fico score car loan, fico score 685 car loan, auto loan 685 vantagescore, 685 vantagescore auto loan, vantagescore 685 auto loan, car loan 685 vantagescore, 685 vantagescore car loan, vantagescore 685 car loan, auto loans credit score 685, car loans credit score 685, 685 credit score auto loan interest rate, car interest rate with 685 credit score, car loans with a 685 credit score, getting a car loan with 685 credit score, car loans for credit score under 685, can I get a car loan with a 685 credit score, 685 credit score car loan interest rate, credit score 685 car loan, auto loans for 685 credit score, get a car loan with a 685 credit score, car loans for 685 credit score, car loan 685 credit score, can i buy a car with a 685 credit score, average car interest rate for 685 credit score, credit score 685 auto loan, auto loan for 685 credit score.

Fun Fact: The average Experian VantageScore in 2019 for the states of California, Wyoming, and Kansas was 685 according to Moneywise.

Purchasing a car can be a stressful endeavor because of all the decisions you must make with that ‘helpful’ high-pressure car salesman stuck to your hip.  

A great way to help alleviate some of that pressure and stress is by getting pre-approved for an auto loan long before you walk onto the car dealership lot.

Many people do not realize that they do not have to use the dealership's financing options.

In fact, according to U.S. News...

“Having the entire car-buying process neatly bundled into one transaction...makes purchasing easy. However, it’s a horrible way to buy a car if you want to get a good deal. It’s a common dealer trick to keep you focused solely on the monthly payment while they manipulate the trade-in value, vehicle price, and car loan terms. In most cases, they make a significant portion of their profit on the sale by marking up the cost of the car loans you are offered.”

 Typically the better financial move is to shop for the best auto rates online, get a pre-approval letter, and take that to the dealer where you want to buy your car.

Soft credit inquiry.  Up to 4 offers in minutes.

Best Online Auto Loan Rates By State

Whether you live in California or Texas, we have found the best online auto loans by state for you. 

If you want to get the best possible car loan rates in your state...

Simply click on the state that you live in below and  fill out a quick, free, no-obligation application to start driving your new car! 

5 Non-Credit Factors that Affect Your Monthly Payment

Let’s not assume your credit is the ONLY variable in getting you a great auto rate.  

As you’ve already seen, your monthly payment will differ if you’re looking at a new vs used car, if it’s a refinance, or based on the length of the loan.

For example, you might have a credit score of 674, but wouldn’t be able to qualify for the rates above due to the following five factors.

Can I get a car loan with a credit score of 686, car loan interest rate with 686 credit score, 686 credit score car loan, 686 credit score auto loan, interest rate on car loan with 686 credit score, car loans with 686 credit score, average interest rate for car loan with 686 credit score, car loan with 686 credit score, 686 credit score auto loans, motorcycle loan 686 credit score, boat loan 686 credit score, rv loan 686 credit score, truck loan 686 credit score, trailer loan 686 credit score, automobile loan 686 credit score, auto loan with 686 credit score, car loan interest rates with 686 credit score, auto loans 686 credit score, auto loan rate with 686 credit score, buying a car with 686 credit score, car loans 686 credit score, auto loan 686 credit score, can I get a car loan with a 686 credit score, auto loan credit score 686, auto loan 686 fico score, 686 fico score auto loan, fico score 686 auto loan, car loan 686 fico score, 686 fico score car loan, fico score 686 car loan, auto loan 686 vantagescore, 686 vantagescore auto loan, vantagescore 686 auto loan, car loan 686 vantagescore, 686 vantagescore car loan, vantagescore 686 car loan, auto loans credit score 686, car loans credit score 686, 686 credit score auto loan interest rate, car interest rate with 686 credit score, car loans with a 686 credit score, getting a car loan with 686 credit score, car loans for credit score under 686, can I get a car loan with a 686 credit score, 686 credit score car loan interest rate, credit score 686 car loan, auto loans for 686 credit score, get a car loan with a 686 credit score, car loans for 686 credit score, car loan 686 credit score, can i buy a car with a 686 credit score, average car interest rate for 686 credit score, credit score 686 auto loan, auto loan for 686 credit score.

Fun Fact: The average Experian VantageScore for the state of New Jersey was 686 according to Experian.

Income & Debt-to-Income

A key factor in how much a lender is willing to lend you is how much monthly income you have, even if your credit score is 681 or 688.

The relationship between the amount of money you make in a month and the amount of your monthly bills is called your debt to income ratio aka DTI.

Most lenders do not want your debt to income ratio to exceed 36-40% for an Auto Loan according to Pocket Sense

This means your total expenses, which will include your proposed monthly auto loan, will need to be within 40% of your DTI.

If your DTI is higher, then lenders may require you make a larger down payment and/or charge you a higher interest rate for the additional risk of lending someone money with a high debt to income ratio.

3 Steps To Calculate Debt-To-Income Ratio

1.

Add up all of your monthly bills including rent, car payments, student loans, utilities, etc.

2.

Divide your total monthly bills by your total monthly income

3.

The resulting number is your debt-to-income ratio

For example:

If I have $5,000 in monthly income and $2,000 in monthly expenses and I divided the monthly expenses 2k by monthly income 5k, I would have a 40% DTI. 

There are multiple debt-to-income ratio calculators on the internet.  I like the free one provided by Credit.com 

Soft credit inquiry.  Up to 4 offers in minutes.

The “Right” Credit Score

You may have visited this article thinking you have a FICO score somewhere in the 680-689 range.  

The truth is, depending on where you checked your score, you may not be using the same score the auto lenders use.  

In the U.S. today most people receive a free credit score with their credit card services or other financial institution supported websites such as Chase Credit Journey. 

The problem with these credit scores is that they are usually a "FAKO" score, not a FICO score.

FAKO scores, such as Vantage, intended use is for educational purposes and not to be relied upon for financial decisions.

The largest producer of FAKO scores is the VantageScore 3.0 (they are launching 4.0 soon). 

Best interest rates for car Loans new used refinance with a Credit Score 680 681 682 683 684 685 686 687 688 689 Can I get a car loan with a credit score of 680, car loan interest rate with 680 credit score, 680 credit score car loan, 680 credit score auto loan, interest rate on car loan with 680 credit score, car loans with 680 credit score, average interest rate for car loan with 680 credit score, car loan with 680 credit score, 680 credit score auto loans, motorcycle loan 680 credit score, boat loan 680 credit score, rv loan 680 credit score, trailer loan 680 credit score, automobile loan 680 credit score, auto loan with 680 credit score, car loan interest rates with 680 credit score, auto loans 680 credit score, auto loan rate with 680 credit score, buying a car with 680 credit score, car loans 680 credit score, auto loan 680 credit score, can I get a car loan with a 680 credit score, auto loan credit score 680, auto loan 680 fico score, 680 fico score auto loan, fico score 680 auto loan, car loan 680 fico score, 680 fico score car loan, fico score 680 car loan, auto loan 680 vantagescore, 680 vantagescore auto loan, vantagescore 680 auto loan, car loan 680 vantagescore, 680 vantagescore car loan, vantagescore 680 car loan, auto loans credit score 680, car loans credit score 680, 680 credit score auto loan interest rate, car interest rate with 680 credit score, car loans with a 680 credit score, getting a car loan with 680 credit score, car loans for credit score under 680, can I get a car loan with a 680 credit score, 680 credit score car loan interest rate, credit score 680 car loan, auto loans for 680 credit score, get a car loan with a 680 credit score, car loans for 680 credit score, car loan 680 credit score, can i buy a car with a 680 credit score, average car interest rate for 680 credit score, credit score 680 auto loan, auto loan for 680 credit score.

What’s the difference?

Well, both FICO and Vantage pull your credit history from the big three credit agencies; Experian, Equifax, and TransUnion, to calculate your credit scores.

However, the credit scores that FICO generates from your account history at the three credit bureaus are used to assess the risk of a borrower by 90% of lenders in the U.S. 

The VantageScore 3.0 is given away free on websites like Credit Karma and in 2018 was prohibited from being used by Fannie Mae and Freddie Mack for real estate mortgages.

Consequently, as you can imagine, the Vantage credit score can be volatile and inaccurate.

For example, according to CreditCards.com, the average VantageScore in Riverside, CA is 682, whereas the median FICO score in CA is 712 to 722, making the first number hard to believe.

Which means that the credit score you think you have right, now may not be an accurate credit score at all. 

You might thing you have a credit score of 687, but in reality, your FICO could be over 750.  

You may even qualify for a super prime loan and have wasted your time reading this article.

Can I get a car loan with a credit score of 687, car loan interest rate with 687 credit score, 687 credit score car loan, 687 credit score auto loan, interest rate on car loan with 687 credit score, car loans with 687 credit score, average interest rate for car loan with 687 credit score, car loan with 687 credit score, 687 credit score auto loans, motorcycle loan 687 credit score, boat loan 687 credit score, rv loan 687 credit score, truck loan 687 credit score, trailer loan 687 credit score, automobile loan 687 credit score, auto loan with 687 credit score, car loan interest rates with 687 credit score, auto loans 687 credit score, auto loan rate with 687 credit score, buying a car with 687 credit score, car loans 687 credit score, auto loan 687 credit score, can I get a car loan with a 687 credit score, auto loan credit score 687, auto loan 687 fico score, 687 fico score auto loan, fico score 687 auto loan, car loan 687 fico score, 687 fico score car loan, fico score 687 car loan, auto loan 687 vantagescore, 687 vantagescore auto loan, vantagescore 687 auto loan, car loan 687 vantagescore, 687 vantagescore car loan, vantagescore 687 car loan, auto loans credit score 687, car loans credit score 687, 687 credit score auto loan interest rate, car interest rate with 687 credit score, car loans with a 687 credit score, getting a car loan with 687 credit score, car loans for credit score under 687, can I get a car loan with a 687 credit score, 687 credit score car loan interest rate, credit score 687 car loan, auto loans for 687 credit score, get a car loan with a 687 credit score, car loans for 687 credit score, car loan 687 credit score, can i buy a car with a 687 credit score, average car interest rate for 687 credit score, credit score 687 auto loan, auto loan for 687 credit score.

Fun Fact: The average Experian VantageScore for the U.S. was 687 according to the Governing.

To get a truly Free Credit Score you can read our definitive guide on free credit scores. 

You can learn your true FICO credit scores for Experian, Equifax, and TransUnion; by visiting MyFICO and signing up today! 

Soft credit inquiry.  Up to 4 offers in minutes.

Employment

Regardless of your credit score, even if it is in the 680's... say 684, lenders want to see that you have a good employment history.

Frequently, when people are younger and in their late teens or early 20’s they will change jobs often.

This is a red flag to a lender who wants to be able to check the box next to ‘reliable income’ whereas if you are constantly changing jobs, that may not be the case.

To avoid being denied an auto loan due to shaky employment you will need to stay at your jobs for a longer period of time.  

Down Payment

The amount of your down payment will depend on whether you are purchasing a new or used vehicle.  It doesn’t matter if your credit score is a 685 or 686.

Remember earlier how I mentioned that Grandpa always said that when you drive a new car off the lot it loses thousands of dollars in value?

Well, lenders think so too and because of the quick depreciation when the vehicle leaves the dealership they usually require a 20% down payment for a new car loan.

Can I get a car loan with a credit score of 688, car loan interest rate with 688 credit score, 688 credit score car loan, 688 credit score auto loan, interest rate on car loan with 688 credit score, car loans with 688 credit score, average interest rate for car loan with 688 credit score, car loan with 688 credit score, 688 credit score auto loans, motorcycle loan 688 credit score, boat loan 688 credit score, rv loan 688 credit score, truck loan 688 credit score, trailer loan 688 credit score, automobile loan 688 credit score, auto loan with 688 credit score, car loan interest rates with 688 credit score, auto loans 688 credit score, auto loan rate with 688 credit score, buying a car with 688 credit score, car loans 688 credit score, auto loan 688 credit score, can I get a car loan with a 688 credit score, auto loan credit score 688, auto loan 688 fico score, 688 fico score auto loan, fico score 688 auto loan, car loan 688 fico score, 688 fico score car loan, fico score 688 car loan, auto loan 688 vantagescore, 688 vantagescore auto loan, vantagescore 688 auto loan, car loan 688 vantagescore, 688 vantagescore car loan, vantagescore 688 car loan, auto loans credit score 688, car loans credit score 688, 688 credit score auto loan interest rate, car interest rate with 688 credit score, car loans with a 688 credit score, getting a car loan with 688 credit score, car loans for credit score under 688, can I get a car loan with a 688 credit score, 688 credit score car loan interest rate, credit score 688 car loan, auto loans for 688 credit score, get a car loan with a 688 credit score, car loans for 688 credit score, car loan 688 credit score, can i buy a car with a 688 credit score, average car interest rate for 688 credit score, credit score 688 auto loan, auto loan for 688 credit score.

Fun Fact: The average Experian VantageScore in 2019 for the state of Idaho was 688 according to Moneywise.

If you are in the market for a used vehicle and planning on financing the purchase, you will need to expect to put down 10%.

Normally there is no down payment on an auto loan refinance.

Want to know the best part?

You can use your vehicle trade-in towards that down payment.

Hopefully, you have some equity in the value of your existing whip and are able to simply trade-in the old car and not have to come out of pocket to make the down payment for the new one.

Soft credit inquiry.  Up to 4 offers in minutes.

Improving your credit score

With a credit score between 680 and 689, you are going to qualify for prime loans at a higher interest rate than if you were able to increase your credit score to 780+.

Because you are so close to receiving super prime credit score rates it may make sense to consider spending 30, 60, or 90 days building your credit

The time and money spent would put you in a lower risk bracket and open the doors to much more financial freedom and better opportunities.

You can start by checking out our 90 day Credit Sprint for a personalized credit building plan.  I know it works because I personally increased my credit score over 100 points in under 60 days.

Additional Resources





Disclaimers:

Annual Percentage Rates (APR), loan term and monthly payments are estimated based on analysis of information provided by you, data provided by lenders, and publicly available information. All loan information is presented without warranty, and the estimated APR and other terms are not binding in any way. Lenders provide loans with a range of APRs depending on borrowers' credit and other factors. Keep in mind that only borrowers with excellent credit will qualify for the lowest rate available. Your actual APR will depend on factors like credit score, requested loan amount, loan term, and credit history. All loans are subject to credit review and approval.

Another option to get a vehicle loan with a lower interest rate would be to ask a family member to co-sign on the loan.

The co-signer would become the primary borrower and you would be the secondary borrower.

They would be responsible for making the payments on the loan if you failed to do so, but you would qualify for an auto loan based on their credit score and not yours.

If you know someone with a good credit score, it may not hurt to ask them to be your co-signer.  

Soft credit inquiry.  Up to 4 offers in minutes.

Can I get a car loan with a credit score of 689, car loan interest rate with 689 credit score, 689 credit score car loan, 689 credit score auto loan, interest rate on car loan with 689 credit score, car loans with 689 credit score, average interest rate for car loan with 689 credit score, car loan with 689 credit score, 689 credit score auto loans, motorcycle loan 689 credit score, boat loan 689 credit score, rv loan 689 credit score, truck loan 689 credit score, trailer loan 689 credit score, automobile loan 689 credit score, auto loan with 689 credit score, car loan interest rates with 689 credit score, auto loans 689 credit score, auto loan rate with 689 credit score, buying a car with 689 credit score, car loans 689 credit score, auto loan 689 credit score, can I get a car loan with a 689 credit score, auto loan credit score 689, auto loan 689 fico score, 689 fico score auto loan, fico score 689 auto loan, car loan 689 fico score, 689 fico score car loan, fico score 689 car loan, auto loan 689 vantagescore, 689 vantagescore auto loan, vantagescore 689 auto loan, car loan 689 vantagescore, 689 vantagescore car loan, vantagescore 689 car loan, auto loans credit score 689, car loans credit score 689, 689 credit score auto loan interest rate, car interest rate with 689 credit score, car loans with a 689 credit score, getting a car loan with 689 credit score, car loans for credit score under 689, can I get a car loan with a 689 credit score, 689 credit score car loan interest rate, credit score 689 car loan, auto loans for 689 credit score, get a car loan with a 689 credit score, car loans for 689 credit score, car loan 689 credit score, can i buy a car with a 689 credit score, average car interest rate for 689 credit score, credit score 689 auto loan, auto loan for 689 credit score.

Take Action!

Finding the best auto loan rates can save you thousands of dollars over the life of your car loan. 

There are multiple factors we have reviewed that determine how to get the best interest rates for a vehicle loan.

The first step is to fill out a quick, free, no-obligation application and start your pre-approval process to buying that car of your dreams today! 

We hope this article answered all of the following questions:

Can I get a car loan with a credit score of 680, car loan interest rate with 680 credit score, 680 credit score car loan, 680 credit score auto loan, interest rate on car loan with 680 credit score, car loans with 680 credit score, and the average interest rate for car loan with 680 credit score.

Click Here to Leave a Comment Below 0 comments

Leave a Reply: