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Car loan rates by credit score If youâre a super prime borrower with a credit score of 781 and above, you can expect to get the lowest rates. In the third quarter, super prime borrowers received a new car loan rate of 2.6 percent on average. But if youâre a deep subprime borrower with a credit score of 500 and below, you can expect to pay around five times more for a new car loan. Deep subprime borrowers received a new car loan rate of 13.53 percent on average.
Credit Score: 500-579 â The minimum credit score to buy a car falls in this range. When your credit score is in this range lenders are hesitant to grant you a car buying loan. There are lenders that will, but they are sub-prime lenders and a down payment of some kind is required.They limit the amount they will lend based on your income and down payment.owever, typically car loan rates based on credit score are the norm across the industry. The FICO score to buy a car is not typically used unless there are special conditions. It doesnât matter if you were thinking about new or used because used car loan rates by credit score are common.