What is a good interest rate for a car for 72 months?

3.96\%
The average 72-month auto loan rate is almost 0.3\% higher than the typical 36-month loan’s interest rate….Loans under 60 months have lower interest rates.

Is 740 a good credit score for a mortgage?

740–850: Excellent credit – Borrowers get easy credit approvals and the best interest rates. 670–740: Good credit – Borrowers are typically approved and offered good interest rates. 620–670: Acceptable credit – Borrowers are typically approved at higher interest rates.

What interest rate can I get on a car loan with a 750 credit score?

Average Auto Loan Rates for Excellent Credit

Is it bad to do a 72-month car loan?

A 72-month car loan can make sense in some cases, but it typically only applies if you have good credit. When you have bad credit, a 72-month auto loan can sound appealing due to the lower monthly payment, but, in reality, you’re probably going to pay more than you bargained for.

Is it bad to finance a car for 72 months?

The Drawbacks Of A 72-Month Auto Loan When you take out a long-term auto loan, you’ll end up paying more money for the vehicle than it’s worth. This is what’s known as being “underwater” or “upside down” on the loan. New cars depreciate very quickly and lose a lot of their value within the first couple of years.

How long does it take to get a credit score of 740?

It will take about six months of credit activity to establish enough history for a FICO credit score, which is used in 90\% of lending decisions. 1 FICO credit scores range from 300 to 850, and a score of over 700 is considered a good credit score. Scores over 800 are considered excellent.

Is 8\% a good APR?

A low credit card APR for someone with excellent credit might be 12\%, while a good APR for someone with so-so credit could be in the high teens. If “good” means best available, it will be around 12\% for credit card debt and around 3.5\% for a 30-year mortgage.

What is the best length for a car loan?

In fact, there are many reasons why you shouldn’t choose a long car loan. Edmunds recommends a 60-month auto loan if you can manage it.

What is a high car interest rate?

An auto loan’s interest rate will depend largely on your credit score….Average new car loan interest rate.

How good is a credit score of 740?

Staying the course with your Very Good credit history. Your 740 credit score means you’ve been doing a lot right. To avoid losing ground, be mindful of avoiding behaviors that can lower your credit score.

What is the best credit score to get a mortgage?

Getting a mortgage with excellent credit. There may be no single loan type where having excellent credit can save you more money. Mortgage lenders will provide loans for people with credit scores as low as the 580 to 620 range. But the higher your credit score, the lower your interest rate will be.

Is 700 a good credit score for a 24 year old?

Your credit score takes into account the average age of your credit cards and loans, so it makes sense that high credit scores skew older. But the fact that nearly one-quarter of people aged 18 to 24 have credit scores of 700-plus should give newcomers plenty of hope.

What is the average utilization rate for a 740 credit score?

A FICO ® Score of 740 is well above the average credit score of 704, but there’s still some room for improvement. Among consumers with FICO ® credit scores of 740, the average utilization rate is 31.8\%. The best way to determine how to improve your credit score is to check your FICO ® Score.