Lenders often use Experian's credit tiers to determine risk and interest rates:
Financing is available but often requires a large down payment or a co-signer, with interest rates that can exceed 20%. Average Interest Rates by Credit Score (Early 2026) good credit for buying a car
As of April 2026, average APRs vary significantly based on your credit tier and whether the vehicle is new or used: Credit Tier New Car APR (Avg) Used Car APR (Avg) 4.66%–5.18% Prime (661–780) 6.27%–6.70% Nonprime (601–660) 9.57%–9.83% Subprime (501–600) 13.17%–13.22% Deep Subprime (300–500) Sources: U.S. News and Bankrate Key Factors Beyond Your Score While your score is critical, lenders also evaluate: Average Auto Loan Rates in April 2026 - US News Cars Lenders often use Experian's credit tiers to determine
Considered "good" credit; most car loans (roughly 69%) are issued to this group. Top-tier borrowers who qualify for the lowest possible
Top-tier borrowers who qualify for the lowest possible rates and special promotions, such as 0% APR.
"Fair" credit that may still qualify for traditional loans but at higher interest rates.