Consumers who are shopping for a new automobile and planning on financing it often asked the same question: “What is a good credit score to buy a car?”
There’s no simple answer to this question, as various lenders will accept different credit scores. Some expect a credit score of 700 or above, while others may accept 680, 650 or scores that are even lower. You can improve your credit score by paying credit card debt off and making payments to your creditors on time each month.
What is a good credit score to buy a car?:
A good credit score for getting a car is not specified by regulation. However, a good credit score to strive for is 700 or higher.
What is a good credit score to buy a car if I want the best interest rates?
If there is no certain answer to the question “What is a good credit score to buy a car?”, one thing is for sure: the higher your credit score, the more likely you are to get a lower interest rate. That’s because a high credit score signifies you are a good risk – that you’re more likely to keep up with your payments and make payments on time.
What is a good credit score to buy a car that’s used?
Financing a new car will require a higher credit score than financing a used vehicle. So what is a good credit score to buy a car that already has some miles on it? Again, it depends on the lender. It’s possible to find somebody to lend you money regardless of your credit score, but the lower your score the higher your interest rates are likely to be.
Contact ACCC to learn what is a good credit score to buy a car.
When you want solid answers to questions like “What is a good credit score to buy a car?” and “How much credit card debt is okay?”, the certified credit counselors at American Consumer Credit Counseling (ACCC) can help. As a nonprofit agency, we provide free credit counseling and help for people in debt. Your ACCC credit counselor will help you evaluate your financial picture, review all your credit debt relief options, and help you choose the path that will be most effective for you based on your financial situation.