How does a lender decide what interest rate to offer me on an auto loan?
An auto lender will typically consider several main factors.
- Your credit score and credit history
- Your income and debts
- The amount of the loan
- The length of time you’ll be paying back the loan, called the “loan term” or “term of the loan"
- The amount of your down payment as a percentage of the value of the vehicle
- The type of vehicle and whether you are purchasing a new or used vehicle
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We’ll forward your issue to the company, give you a tracking number, and keep you updated on the status of your complaint.