 TITLE: What Auto Loan Rate Can You Get With Your Credit Score? CONTENT: How to Reduce Your Auto Loan Interest Rate\n------------------------------------------\nImproving your credit score is one of the best ways to score a lower auto loan interest rate. You can do that by checking your credit score and credit report to get an idea of which areas you need to address.\nCommon ways to improve your credit score include getting caught up on past-due payments, paying down credit card debt, limiting new credit applications and disputing inaccurate information on your credit report.\nAs you work on building your credit, here are some other ways you may be able to reduce your auto rate:\n*   **Shop around.** One of the best ways to get a lower rate on your auto loan is to compare rate offers from multiple lenders. Apply for preapproval to get rates from at least three to five lenders to get a good idea of what you're likely to qualify for.\n*   **Apply with a cosigner.** If you don't have time to improve your credit, applying with a creditworthy cosigner may improve your chances of scoring favorable terms. The lender will consider both credit profiles to determine the loan's risk and your interest rate.\n*   **Make a larger down payment.** Again, putting more money down reduces how much you owe and the loan's risk to the lender. If you can afford it, consider making a larger down payment to save money with a lower rate.\n*   **Opt for a shorter repayment period.** A shorter repayment term will result in a higher monthly payment. But if you can afford it, it could help you qualify for a lower rate on your loan and reduce your overall interest costs.\n*   **Refinance your auto loan.** While you may not qualify for a low rate right now, you can refinance your loan at a later date once your credit and financial situation has improved. Many lenders offer auto loan refinance options, allowing you to shop around to increase your odds of getting a low rate.\nConsider each of these options and determine the right ones based on your situation, goals and abilities. END