 TITLE: What Factors Do Lenders Consider When Determining My Interest Rate? CONTENT: Auto Loans\n----------\nAuto lenders use the following factors to determine your interest rate:\n#### 1\\. Your credit scores\nYour credit history plays a big factor in auto loans, as well. The higher your credit scores, the lower your interest rates on car loans.\n#### 2\\. Your down payment\nJust like with mortgages, the more money you put down when buying a car, the more likely you are to qualify for a lower interest rate—because there's less risk to the lender.\n#### 3\\. Your loan term\nAgain, the shorter your loan period, the lower the interest rates you'll have access to.\n#### 4\\. Your car\nThe age of your car also plays a big role. New cars generally come with lower interest rates, while older cars carry higher rates because they hold a lower resale value. END