For auto loans:
Example: A $30,000 2024 Toyota Camry LE with $3,000 downpayment not including sales tax.
Compared to a Toyota Financial Services qualification, you will be paying 6.8 to 9.7 times more interest depending on your FICO score. That is $13,500 more in interest for a Subprime borrower compared to a qualified borrower with Toyota.
| APR Interest | Monthly | Total | Total Interest | |
| Toyota Financial | 2.75% | $594.65 | $28,543.20 | $1,543.20 |
| 600-699 | 17.16% | $781.32 | $37,503.36 | $10,503.36 |
| 451-599 | 22.18% | $853.30 | $40,958.40 | $13,958.40 |
| 450 or lower | 23.65% | $875.03 | $42,001.44 | $15,001.44 |
- https://www.toyota.com/southeasttoyota/deals-incentives/camry_apr_c8515459-16cf-4eef-8057-fe9de611569d/?offers=apr&vehicles=camry
- https://cars.usnews.com/cars-trucks/advice/average-auto-loan-interest-rates#h-average-auto-loan-rates-for-excellent-credit
For a home mortgage:
The estimated mortgage rate is based on an average U.S. single-family home price of $425,000 with a 20% downpayment and a 30-year fixed-rate mortgage.
A Subprime borrower will require a higher downpayment of up to 35% and a rate of 10% or higher.
Compared to a Prime borrower, Subprime borrowers will pay over $280,000 more!
If you are selling your home in 10 years.
The subprime borrower will still owe $309,190 vs Prime borrows $289,881 to pay off the bank.
| FICO Score | National Average Mortgage APR | Monthly | Total Paid | Interest Paid |
| Subprime* | 10% | $2,984 | $1,074,146 | $734,140 |
| 620 - 639 | 8.31% | $2,569 | $924,718 | $584,718 |
| 640 - 659 | 7.77% | $2,441 | $878,580 | $538,580 |
| 660 - 679 | 7.34% | $2,310 | $842,468 | $502,468 |
| 680 - 699 | 7.12% | $2,290 | $824,200 | $484,220 |
| 700 - 759 | 6.95% | $2,251 | $810,223 | $470,223 |
| 760 - 800 | 6.73% | $2,201 | $792,259 | $452,259 |
- https://www.businessinsider.com/personal-finance/average-mortgage-interest-rate
- https://www.forbes.com/advisor/mortgages/what-is-a-subprime-mortgage/
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