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We're the Consumer Financial Protection Bureau (CFPB), a U.S. government agency that makes sure banks, lenders, and other financial companies treat you fairly.

Learn how the CFPB can help you

How does a lender decide what interest rate to offer me on an auto loan?

Answer:

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

Read more information on dealer-arranged financing.

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The content on this page provides general consumer information. It is not legal advice or regulatory guidance. The CFPB updates this information periodically. This information may include links or references to third-party resources or content. We do not endorse the third-party or guarantee the accuracy of this third-party information. There may be other resources that also serve your needs.