Overview
Below are the default backup rates for Modal.
These rates are displayed when the following are true:
1. PaymentDriver rates fail due to an error or no matching rate being found.
2. Dealer does not have any custom backup rates.
| New Vehicle - Backup Rates | ||||||
| Terms in Months | ||||||
| Credit Score | 24 | 36 | 48 | 60 | 72 | 84 |
| 750 - 850 | 4.99% | 4.99% | 4.99% | 4.99% | 4.99% | 4.99% |
| 700 - 749 | 4.24% | 4.24% | 4.24% | 4.24% | 4.24% | 6.24% |
| 650 - 699 | 5.24% | 5.24% | 5.24% | 5.24% | 5.24% | 7.24% |
| 600 - 649 | 10.24% | 10.24% | 10.24% | 10.24% | 10.24% | 12.24% |
| 300 - 599 | 14.24% | 14.24% | 14.24% | 14.24% | 14.24% | N/A |
| Used Vehicle - Backup Rates | ||||||
| Terms in Months | ||||||
| Credit Score | 24 | 36 | 48 | 60 | 72 | 84 |
| 750 - 850 | 3.99% | 3.99% | 3.99% | 3.99% | 4.99% | 5.99% |
| 700 - 749 | 5.24% | 5.24% | 5.24% | 5.24% | 6.24% | 7.24% |
| 650 - 699 | 8.24% | 8.24% | 8.24% | 8.24% | 9.24% | N/A |
| 600 - 649 | 12.24% | 12.24% | 12.24% | 12.24% | 14.24% | N/A |
| 300 - 599 | 16.24% | 16.24% | 16.24% | 16.24% | N/A | N/A |
Changelog
- 1.0 / November 25, 2020: Initial release.
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