That answer can vary based on the type of vehicle you want in addition to your current financial situation. Instead, you might want to ask the question: Who has the best car loan rates for me? You can find loans through lenders such as MyAutoLoan, U.S. Bank, and Bank of America to name a few. If you need assistance finding the right car loan for your needs and budget, the experts at Platinum Volkswagen would be glad to assist you.

What is the Current Interest Rate for Car Loans?

Your credit score plays a major role in determining your interest rate. Below, we have listed some average rates based on different ranges of credit scores.

• 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

When you have a higher credit score, you can expect a lower interest rate on your vehicle. There are ways you can boost your credit score so you can enjoy a lower interest rate. One great way to do this is by making small purchases and paying them off right away.

How to Get a Car Loan

What is a good car loan rate? A good car loan rate can be as low as 3.2% if you have very good credit and up to 12.9% if your credit is less than ideal. If you are looking to secure a car loan, you may want to consider applying online to expedite the process. To do so, you will need to fill in the following information:

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

Our online application is safe, secure, and easy to use. Apply online before heading over to the dealership to take home your dream car. For more car-buying tips on loans and how to refinance a loan, visit Platinum Volkswagen.

Apply for a Loan at Platinum Volkswagen

If you have questions about car loans or leasing, or are wondering if you should buy or lease, our finance team would be glad to assist you. Contact us today at your convenience. To save even more on your next car, be sure to look at our new vehicle specials.