Used Car Loan Rates in MA by Credit Score
Used car loan rates in Massachusetts start at 4.99% APR for excellent credit scores of 800 or higher. They climb to 24.67% APR for poor credit under 580. Buyers with strong credit often lock in 5% to 8% APR on a 2020 Mazda CX-3 with short loan terms. Fair credit lands in the mid-teens.
National averages match what most MA lenders offer. Top local credit unions beat these rates for strong members. Check this table for averages by credit tier:
| Credit Tier | FICO Range | Average Used APR |
|---|---|---|
| Excellent | 800+ | 8.93% |
| Very Good | 740-799 | 8.33% |
| Good | 670-739 | 11.75% |
| Fair | 580-669 | 22.21% |
| Poor | Under 580 | 24.67% |
Local credit unions in MA offer competitive deals on a 2020 Mazda CX-3. Approval hinges on your credit, income, loan term, and vehicle condition. Many cut rates by 0.25% to 0.50% with autopay. See sample offers:
| Lender | APR | Term | Vehicle Notes |
|---|---|---|---|
| Mass Bay CU | 4.99% | Up to 48 mo | 2020 CX-3, low miles, autopay |
| Mass Bay CU | 9.99% | 60 months | 2019 or older |
| PNCU | 4.99% | Up to 60 mo | 2018-2025 models |
| Metro CU | 7.44% | Up to 66 mo | 2018-2020 |
| SCUCU | 5.49-6.99% | Up to 75 mo | 2015-2025 |
Several factors shape your exact rate on a 2020 Mazda CX-3.
- Loan term: Short terms like 48 to 60 months bring rates of 4.99% to 7.49%. Longer terms of 72 to 84 months push rates to 6.62% to 8.69%.
- Vehicle age: Your 2020 model qualifies for top rates. Older cars add 0.50% to 2.00%.
- Credit profile: Lenders check FICO score, debt-to-income ratio, and auto loan history. A solid past loan helps.
- Down payment and LTV: Bigger down payments lower loan-to-value ratio and cut your rate.
- Autopay and membership: Credit unions often drop 0.25% for autopay and members.
Plan payments like this: For every $1,000 borrowed, expect $16 to $23 per month based on rate and term.
Get the Best Rate
Follow these steps to score the lowest APR:
- Pull your FICO score and fix errors before applying.
- Shop quotes from 2 to 3 lenders. Grab one from a local MA credit union.
- Choose the shortest term you can handle. It saves interest and unlocks lower rates.
- Boost your down payment to shrink LTV and improve terms.
- Enroll in autopay and claim member perks.
Sidekick lets you compare lender offers and view true costs for your 2020 Mazda CX-3, fees included.