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Posted in Auto Loans
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lisabean229

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with a credit score of 530 what kind of auto intrest rate should i expect?

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You don't say what version of score the 530 is, but 530 on any version is pretty low. You must have some serious derogatories on your reports if you have a 530. Remember that what is on your reports is just as important as your score when being considered for credit. Your debt to income ratio will also be a very big factor. Assuming that you have serious derogatories on your reports, you may have trouble finding an auto loan. There are some subprime lenders out there that you may be able to get to finance you, but the rate would be very high. Just a guess and only a guess, if you were to be approved by a lender expect to pay 20-30% interest rate.

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My advice would be to work to clean up your credit and build your scores up before applying for an auto loan, that is if it is possible to wait.

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