Your credit score isn't the end all be all of the rates you'll be offered.
The rates you are offered will be based on (in roughly this order) the amount of the loan, your debt to income ratio, your credit score, number of your active credit lines with balances, and the length of the loan.
I was once offered a disappointing rate because I hadn't consolidated my student loans, to me was one loan, but to the banks it was 14 loans, even though I had an 820 at the time, what they were more concerned about was my debt income ratio and that I had so many open loans. I called a few different places and they all told me the same thing and offered me the same rate. Ultimately I went with the dealership because the best rate was on their longest term loan. (This is okay - as long as you pay it off early, aka make payments as if its a 4 yr loan even though it's a 6 yr loan or whatever.)
Given those factors, different institutions will sometimes offer different rates, so it's always worth calling around - but typically its the better off you are financially the more institutions will compete for your loan.
The rates you are offered will be based on (in roughly this order) the amount of the loan, your debt to income ratio, your credit score, number of your active credit lines with balances, and the length of the loan.
I was once offered a disappointing rate because I hadn't consolidated my student loans, to me was one loan, but to the banks it was 14 loans, even though I had an 820 at the time, what they were more concerned about was my debt income ratio and that I had so many open loans. I called a few different places and they all told me the same thing and offered me the same rate. Ultimately I went with the dealership because the best rate was on their longest term loan. (This is okay - as long as you pay it off early, aka make payments as if its a 4 yr loan even though it's a 6 yr loan or whatever.)
Given those factors, different institutions will sometimes offer different rates, so it's always worth calling around - but typically its the better off you are financially the more institutions will compete for your loan.
Sponsored