Can I Get A Car Loan With 700 Credit Score? Less Than 5% Interest Rate?

What are your options when you are in the market for a car loan with a 700 credit score?

A 700 or higher credit score puts you in a good spot to receive the best auto loan terms. You will see less favorable terms when pushing a lower score like a 500.

No one wants higher interest fees or pay more upfront if they can avoid it, right? 


Since you are in a good spot, you will get a car loan, and you qualify for options for your loan and financing needs. 

Apply for an Auto Loan Now

What interest rate can I get on a car loan with a 700 credit score?

Your score is in the 700-749 credit score bracket which is deemed as “Good Credit” often has an interest rate of 5.07% for a new car. 

How about a used auto loan interest rate with 700 credit score?

You can get a used car loan interest rate floating around 5.32% 

Also, remember, the best interest rates alter based on what you intend to use the auto loan for: Do you intend to buy new, a used vehicle or are you refinancing?

The answer to those questions will decipher what kind of interest rate you’ll get and with which company. 

Still, you’re in good standing when looking for a car loan with a 700 credit score. And, the chances of your FICO auto score being too far from your 700 low.

Credit Score




450 or Lower















750 or Higher




What Do Car Dealers Look For In Credit?

  1. I’m Paying Cash. Why Do They Need To Pull My Credit? Identity theft is still an issue in the US. Pulling credit is a quick way to verify that you are who you say you are. Also, this may be the dealer’s only thing to hedge when receiving a bad check. 

  2. You are filling out a credit application so that they can verify your eligibility, protect themselves and so they can increase sales.
  3. All in all: The dealer wants to see your financial history (your track record of borrowing and paying back money) before giving you a loan for the vehicle. Your credit history accounts for 15% of your overall FICO score.

Related: Does A Car Insurance quote affect credit?

Keep In Mind: The FICO Auto Score

What is the FICO Auto Score?

A FICO Auto Score is not sold directly to consumers, it is used by auto lenders. The auto FICO score ranges from 250 to 900.

So, their score could be higher or less than your current credit score. The most current version is the FICO auto score 8 and is used across all credit bureaus.

They use different crediting criteria to better asses lending risks. They want to predict if you will or will not pay as agreed. 

This means your credit history will have a more significant role in their calculations, versus other factors, like new credit.

Mostly, they want to consider anything on your credit report that is a red flag for auto loan risks.

Related: How To Go From A 680 To A 720 Credit Score

So, if you were wondering, “Can I Get A Car Loan With 700 Credit Score?” 

Yes, you can.

Just keep all the information given above in mind. You may have a better auto FICO score than a normal FICO score, so your car loan interest rate with a 700 credit score, could be higher.

Scores 50 Points under 700 may have a different effect. 

And shop around, you may get a soft inquiry or two but it won’t kill your score. It should be obvious to a lender that you are shopping around for a loan.

Plus, those inquiries won’t show up automatically.  

Want To Raise Credit Score Above 700?

Be prepared to explain negative marks or any outstanding accounts. 

Don’t be afraid to answer questions. There are many cases where people have gotten financing and reasonable interest rates with much lower credit scores.

It’s all just precaution. 

If you have a 680, you are still in the 700 ballpark. But, when those scores take a huge jump by 100 points, you will see less favorable interest rates.

You can get ahead of the curve by having some of those negative items removed by hiring a service to fix your credit. Here are 3 we recommend:

Here are a few you can call for a free consultation:
  1. Lexington Law  or Call Now: (833) 838-5600
  2. Ovation or Call Now (855) 634-7274
  3. or Call Now (833) 840-9600

Related: Can I Get A Car Loan With A Credit Score of 600

Wrapping Up

There isn’t a set credit score for all auto loan lenders. Each lender has its own requirements so let this information be a guide on your journey and take action! 

So, even if your FICO auto score is lower than your other score, you may still get what you want out of the deal. 

They don’t all look at the same things. 

It’s best to have “all your duck in a row”, start the pre-qualification process (or at least the conversation) by applying and seeing where you can go from there. 

James Willaims

Hey There, James here. I am the co-founder and editor of this site. I have over 10 years experience in business and 5 in the credit repair world