What does my credit score have to be in order to finance a car?
Wednesday, February 3rd, 2010 at
4:43 pm
Michael asked:
I have recently paid off everything on my credit report. My credit score is slowly creeping up. I, like a lot of people, screwed up my credit when I was younger and am paying for it now. My Scores range from 579 – 618. Can someone give me some feedback please?
I have recently paid off everything on my credit report. My credit score is slowly creeping up. I, like a lot of people, screwed up my credit when I was younger and am paying for it now. My Scores range from 579 – 618. Can someone give me some feedback please?
Tagged with: Credit Report • Finance Car • People
Filed under: Credit
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To get a good rate around 720. You will be able to find one…try your bank first and see what they give you.
Actually, I’ve seen people get car financing with scores as low as 540. To get the best interest rates you will need scores above 620 and will need to have at least 10% down. Just remember, if you have $ to put down on a car, have proof of your ability to pay the debt and have scores around 600, you will likely get a reasonable car loan.
Financed cars is more expensive to insurance cause it requires full coverage. You can compare how much you would pay for full coverage of this car using this tool – carinsurance.yoll.net
Try wish123.com. Excellent website to post questions and receive answers from experts.