Overview
Below are the default backup rates for the Modal Checkout payment calculator. "N/A" means that no monthly payment will be calculated and displayed to the user.
These rates are displayed when the following are true:
1. Market Scan rates fail due to an error or no matching rate being found.
2. Dealer does not have any custom backup rates.
| New and Pre-Owned Vehicle - Backup Rates | |||||||
| Terms in Months | |||||||
| Credit Score | 24 | 36 | 48 | 60 | 63 | 72 | 84 |
| 720-850 | 4.24% | 4.24% | 4.24% | 4.24% | 4.99% | 4.99% | 4.99% |
| 700-719 | 4.99% | 4.99% | 4.99% | 4.99% | 4.99% | 4.99% | 5.24% |
| 680-699 | 5.24% | 5.24% | 5.24% | 5.24% | 5.24% | 5.24% | 5.99% |
| 660-679 | 5.99% | 5.99% | 5.99% | 5.99% | 5.99% | 5.99% | 6.24% |
| 640-659 | 8.99% | 8.99% | 8.99% | 8.99% | 9.24% | 9.24% | 9.24% |
| 620-639 | 11.74% | 11.74% | 11.74% | 11.99% | 11.99% | 13.19% | N/A |
| 600-619 | N/A | 12.75% | 12.75% | 13.99% | 13.99% | 14.29% | N/A |
| 580-599 | N/A | 16.24% | 16.24% | 16.24% | 16.24% | 16.99% | N/A |
| 550-579 | N/A | 17.99% | 17.99% | 17.99% | 17.99% | 18.24% | N/A |
| 500-549 | N/A | 18.99% | 18.99% | 18.99% | N/A | N/A | N/A |
| 300-499 | N/A | 21.99% | 21.99% | 21.99% | N/A | N/A | N/A |
Changelog
- 1.0 / November 25, 2020: Initial release.
- 1.1 / October 6, 2021: Adjusting backup rates to reflect current market
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