If you are looking to buy a Hyundai vehicle, you’re likely considering a financing plan. Among other factors, Hyundai interest rates are one of the most important variables when financing a Hyundai vehicle. Find out what exactly goes into calculating these rates and shop with confidence at Keyes Hyundai.
Location
Where drivers live has a big impact on rates. Your rates will be higher if you live in a congested area with lot of cars, and if things like theft or vandalism are common.
Driving History
A clean driving history is great for financing. On the other hand, if you’ve had accidents or made claims in the past, you may have to pay more for your loan.
Age
Your age is another thing lenders examine. This is because younger drivers typically get involved in more crashes, which is why their rates are higher.
Marital Status
Statistically, married people don’t get into as many accidents as single people. If you’re in the former category, you can expect to see a lower interest rate.
Make and Model
The more expensive the vehicle, the more expensive it usually is to fix, which is why loans for these models often come with higher interest rates. If you want a lower rate, consider a more modest vehicle.
Credit Score
Finally, lenders will review your credit. If your score is in the Good to Great range (typically a minimum score of 670), you are seen as less of a risk to pay back your loan, which could secure you a better rate.
Get Pre-Approved for Hyundai Financing
The best way to get an estimate for your interest rate is through the pre-approval process. Keyes Hyundai in Van Nuys, CA, makes it quick and simple. Just fill out our online financing application to get things started.
