Best Credit Range for Getting an Auto Loan

A credit score above 740 is optimal for securing an auto loan with good interest rates. You can still be approved for a loan with a score the high 600s but can expect to pay higher interest.

Your credit score will also be looked at for a car lease. According to Experian, 717 is the average credit score for those with a lease and 644 is the average for those with a used car loan.

Consider getting pre-approved for a car loan rather than getting it through a dealership. This lets you shop for the best rate and alleviates the pressure of trying to get one on the spot. Keep in mind auto loan-related credit inquires will be grouped together as one inquiry if made within 14 days of one another.