How to Get Lower Interest on a Car Loan

2025 Subaru Legacy driving through flooded streets

Are you wondering, “How can I lower my car loan interest rate?” We at Subaru South Tampa can help you with the answer. Learn more about auto financing, new Subaru models, and more so you no longer have to ask, “Can you lower interest rates on a car loan?” Trust the experts at our Subaru South Tampa finance department to help get the car loan you need.

 

 

How to Lower Your Car Loan Interest Rate

  1. Check your credit score. Knowing your credit score can help you decide if it needs to be cleaned up a bit more before you apply for a car loan.
  2. Clean up your score. Making sure your credit score is in a good place before applying for a car loan can help in getting you a lower interest rate.
  3. Check for Refinance Loans. Make sure you know the range of interest rates that are average for your credit score and loan amount. Be sure to compare rates and payment terms from multiple places and ask your current lender for a lower rate. If denied, let them know you’ve been offered lower rates elsewhere and ask if they’re willing to match or beat the lowest offer.
  4. Enlist a cosigner. Having someone cosign for your loan might get you a lower interest rate on your loan, especially if you have bad credit.
  5. Consider in-house financing. In-house financing means you’ll be making payments to the dealership instead of the bank. If you make your monthly payments on time, consistently, then you’ll also be able to get a higher credit score.

What is a Good Interest Rate?

The interest rate you receive depends on your credit score as well as the size of the loan. And while they can be negotiated, on average, drivers can find an interest rate ranging from 5.25% to 15.77% on new cars. Based on credit scores, here are estimated interest rates:

  • Superprime: 781-850 – 5.25%
  • Prime: 661-780 – 6.87%
  • Nonprime: 601-660 – 9.83%
  • Subprime: 501-600 – 13.18%
  • Deep subprime: 300-500 – 15.77%

Finance Your Subaru with Subaru South Tampa

From our Subaru credit services to our helpful finance experts answering questions you may have about getting a lower interest rate on auto loans. Whether you’re looking for that lower interest rate or you’re looking for help with a new vehicle, be sure to contact us.

 

More from Subaru South Tampa

  • Subaru Battery and Electrical System Care for Tampa Summers

    Tampa’s sizzling summer heat can be unforgiving, especially for your Subaru’s battery and electrical system. Subaru South Tampa is here to help you navigate the challenges of keeping your car running smoothly during the hottest months. This guide covers essential maintenance tips and highlights the importance of preventive care to ensure your Subaru stays in…

  • Summer Adventure Ready: Subaru AWD Models for Tampa Bay Outdoor Explorers

    Summer in Tampa Bay is a time for exploration, adventure, and enjoying the beauty of the outdoors. For those who crave the thrill of outdoor activities, Subaru South Tampa offers a lineup of AWD vehicles perfectly suited for the area’s unique terrain and lifestyle. Whether you’re hitting the sandy beaches, exploring muddy trails, or venturing…

  • Subaru Summer Fluid Maintenance Tips for South Tampa

    To keep your Subaru running smoothly through South Tampa’s sweltering summer season, understanding how high temperatures affect your vehicle’s fluids is crucial. Subaru South Tampa is here to guide you through the essentials of fluid maintenance, ensuring your car remains in peak condition. We’ll explore how intense heat stresses your vehicle’s fluids, the importance of…

Saved Vehicles

You don't have any saved vehicles!

Look for this Save icon

Once you've saved some vehicles, you can view them here at any time.

My Cars

Your cars are empty.
Save some vehicles to get started!

Menu

Get Directions

6402 W Hillsborough Ave, Tampa, FL, 33634
Subaru South Tampa 27.99618772775249, -82.55068287671502.