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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.

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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

Read more information on dealer-arranged financing.

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