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30Bly
06-25-2014, 12:57 AM
what does your credit score have to be at the minimum to be able to get a car? no smart-mouths either, and what are some ways to build up your credit score? I'm only 19

cheapwebdesignchicago
06-25-2014, 12:41 PM
If a car is an absolute necessity and public transportation isn't an option, you can look into BHPH (buy here pay here) dealers. You are going to pay a very high interest rate for not such a great car at a relatively high price. Sounds ugly and it definitely is if your only option is this route. BHPH are there to finance people who wouldn't be able to get a car otherwise, but you pay them for the risk they are taking.

To get a loan from a lender, your best bet would probably be the finance arm of the manufacturers. They usually have a first time buyer incentives. I would think anything below around 650 would be difficult in any situation. Considering your age, unless you've got a decent work record/income/down payment, you are probably going to need someone to co-sign.

KennethPaxton
09-15-2014, 02:23 AM
A good credit score is very important when you want to finance in car. I would only say for this is make your score about 600 or higher then you easily get the loan but the interest is depend on the policy of the bank.

DwightDuncan
09-22-2014, 02:32 AM
A good credit score is very important when you want to finance in car. I would only say for this is make your score about 600 or higher then you easily get the loan but the interest is depend on the policy of the bank.
Your credit score is very important when you are going to finance a Car, I think you are right the credit score should be 550 to 600 to finance a car.

Greatta
12-01-2015, 01:09 AM
If a car is an absolute necessity and public transportation isn't an option, you can look into BHPH (buy here pay here) dealers. You are going to pay a very high interest rate for not such a great car at a relatively high price. Sounds ugly and it definitely is if your only option is this route. BHPH are there to finance people who wouldn't be able to get a car otherwise, but you pay them for the risk they are taking.

To get a loan from a lender, your best bet would probably be the finance arm of the manufacturers. They usually have a first time buyer incentives. I would think anything below around 650 would be difficult in any situation. Considering your age, unless you've got a decent work record/income/down payment, you are probably going to need someone to co-sign.

Very good advice, thanks!

peterradcliffe
08-02-2019, 04:21 AM
There is no minimum credit score for financing a car. if you have good or bad or no credit score its does not matter. Every lender has some different criteria for credit score.

a credit score should above 500 for car finance in my opinion.

leojack
09-26-2019, 06:35 AM
Car loans are possible with bad credit score also. 650 is the minimum credit score average. Financial companies are checking the age, financial status, credit score and other some eligibility criteria.

pamchaser
10-09-2019, 05:53 AM
A good credit score is very important when you want to finance in car. I would only say for this is make your score about 600 or higher... if you interested to find out more about finance and business related news, Read more on Global Banking & Finance Review (https://www.globalbankingandfinance.com/)

shanerobert
10-10-2019, 05:06 AM
The average credit score for a new car was 713, and 656 for the used car, as per the Experian report.

essencepk
10-15-2019, 01:38 AM
At the end of 2017, the average credit score for a new-car loan was 713, and 656 for a used-car loan, according to an Experian report. But nearly 20% of car loans go to borrowers with credit scores below 600, according to Experian. Almost 4% go to those with scores below 500.

ruhiangel
10-21-2019, 01:52 AM
At the end of 2017, the average credit score for a new-car loan was 713, and 656 for a used-car loan, according to an Experian report. But nearly 20% of car loans go to borrowers with credit scores below 600, according to Experian. Almost 4% go to those with scores below 500.

TitleloanSC
10-21-2019, 11:50 PM
A Good Credit Score playing a vital role when you are financing a car.

essencepk
10-25-2019, 02:26 AM
At the end of 2017, the average credit score for a new-car loan was 713, and 656 for a used-car loan, according to an Experian report. But nearly 20% of car loans go to borrowers with credit scores below 600, according to Experian. Almost 4% go to those with scores below 500.

Emma523
12-12-2019, 05:27 AM
the different lender has different criteria relates loans. you can borrow a loan for any credit score.

VietnamCredit
12-12-2019, 08:24 PM
maybe this will help you : Easiest Ways To Improve Your Credit Score (https://vietnamcredit.com.vn/news/easiest-ways-to-improve-your-credit-score_13593)

jarroded mondson
01-02-2020, 06:48 AM
Yes the statement "credit score is crucial" often stated, but a lot of companies established these days like Auto Finance Canada that provides you a car regardless of your credit score statement.

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01-13-2020, 03:49 PM
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BorisPaige
01-23-2020, 06:28 AM
If you are planning to get a loan to purchase used or a new car, then you must need to pay attention to your credit score. This 03 digit determines whether you qualify for the loan and what interest rates you have to pay.

A person with high credit scores receives the best interest rates and terms. You can take a loan also if your credit score is low, but you have to pay more interest rates. If you want to take a loan at the best interest rates, then your credit score must be more than 700.

garoldn1
05-28-2020, 01:47 PM
You do not need a credit score to buy a car. It doesn't matter what your credit rating is if you buy a car.
If you want to borrow money to buy a car, this is a different story. In this case, your credit rating will affect your interest rate, so the higher the score, the better, although there is no exact and quick rule for determining your credit rating in order to apply for a car loan.
Just buy a car you can afford. The problem is solved. True, I advise you to buy a new one, because who knows what problems she has. I also had such a problem, so I decided to fix it, I even ordered Air Impact Wrenches from https://torquewrenchguide.com/reviews/best-air-impact-wrenches/ and in the end I was able to fix it, so my advice is, take a new one))

King Fast
06-09-2020, 06:50 AM
If your cibil score is 700+ then you can apply for car loan. Almost every finance company or NBFC may provide you car loan.

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06-14-2020, 11:13 PM
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CatherineRomero
06-15-2020, 12:27 PM
Thanks for helpful Advise....!

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06-16-2020, 06:03 AM
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amelyjcob
06-23-2020, 07:01 AM
A good credit score to buy a car is usually above 660, which is the minimum score to be considered a "prime" borrower by Experian. However, there's no industry-wide, official minimum credit score in order to qualify for an auto loan

MMPR
06-24-2020, 07:07 AM
The prescribed FICO rating expected to purchase a vehicle is 660 or more. This will normally ensure loan costs under 6%. Auto banks do acknowledge nonprime and subprime clients, notwithstanding, the financing costs are fundamentally higher.

Lilykevin86
07-24-2020, 11:30 PM
Nerdwallet calls attention to that, "toward the finish of 2017, the normal FICO rating for another vehicle credit was 713, and 656 for a trade-in vehicle advance, as indicated by an Experian report. In any case, almost 20% of vehicle advances go to borrowers with FICO ratings under 600, as indicated by Experian. Nearly 4% go to those with scores under 500."

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09-11-2020, 04:27 AM
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09-15-2020, 02:08 AM
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10-01-2020, 04:45 PM
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creditscore
10-06-2020, 08:42 AM
Everyone wants to be able to drive around in the car of their dreams but everyone may not be able to afford it. Luckily there exist car loans that help you achieve that dream. However, there are certain prerequisites that need to be fulfilled before taking a car loan. The general eligibility criteria for availing a car loan comprises of requirements like a minimum age of 21 years, and a good credit history. Good credit history relates to a good credit score which, in many cases can be the deciding factor in the acceptance or rejection of a car loan application. So, if you are wondering what your credit score should be to buy a car, then you should know credit score lies somewhere between 300-900, and a credit score of 750+ is considered as good. So, to take a car loan at best interest rates you should have credit score of at least 750.
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ExpertAlex
01-09-2021, 07:24 AM
I had a BMW and no credit would have been enough to finance it. BMW never seemed to me a reliable car, although occasionally I looked closely at them, but decided to buy. For example, instead of a BMW x3, I bought myself a much cheaper 2020 outback (https://carbuzz.com/cars/subaru/outback). In terms of reliability and other parameters, Subaru is ahead of BMW

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01-10-2021, 01:02 PM
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alishbasaki
01-11-2021, 11:05 PM
Nerdwallet brings up that, "toward the finish of 2017, the normal FICO assessment for another vehicle advance was 713, and 656 for a trade-in vehicle credit, as per an Experian report. Yet, almost 20% of vehicle advances go to borrowers with FICO ratings under 600, as indicated by Experian. Practically 4% go to those with scores under 500

raviseo120
01-12-2021, 09:32 AM
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alishbasaki
01-15-2021, 10:52 PM
Nerdwallet brings up that, "toward the finish of 2017, the normal financial assessment for another vehicle credit was 713, and 656 for a pre-owned vehicle advance, as indicated by an Experian report. However, almost 20% of vehicle advances go to borrowers with FICO assessments under 600, as per Experian. Practically 4% go to those with scores under 500."

lishmaliny
01-16-2021, 05:17 AM
A CIBIL score close to 900, typically 750 and above is generally considered a good CIBIL score for getting a car loan.

raviseo121
01-20-2021, 11:25 AM
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02-28-2021, 02:11 PM
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03-01-2021, 09:42 PM
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totalsolutiontrust
04-02-2021, 08:25 AM
what does your credit score have to be at the minimum to be able to get a car? no smart-mouths either, and what are some ways to build up your credit score? I'm only 19

Hi! Lauren here, a credit counseling specialist (https://totalsolutiontrust.com/about-us) of Total Solution Trust. I may have to say that you can get a car at any credit level and even without credit. The question is what kind of interest rate you want to pay? for the best interest rates you need to have a rockstar credit above 775. I can give you a free credit strategy (https://totalsolutiontrust.com/business-credit-restoration-services) for this if you want. Just click here. (https://totalsolutiontrust.com/book-appointment)

homeocare
04-03-2021, 12:43 AM
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Veralder
04-29-2021, 09:09 AM
It isn't easy to imagine a scenario in which a person will have a good credit rating at the age of 19. The most important thing is not to have any debts at this age or a criminal record. The situation could play in your favor if your parents, guardians, or relatives took out a loan for your education at a university or college. If parents issued the loan in your name, this adds an item to the credit history. Also, an option is to give a loan for a car in your name. Pay attention to the battery costs at cararac.com (https://cararac.com/batteries/). Because if the prices are too high, you will have to take out a new battery loan; there is also some joke and meaning here.

RaniaRanii3
05-03-2021, 12:32 PM
Overall, the FICO rating required for a trade-in vehicle advance was 657 while the normal FICO rating required for another vehicle credit was 721. All things considered, practically 30% of vehicle advances went to borrowers with financial assessments under 600, as indicated by Experian. Practically 4.5% of trade-in vehicle credits went to those with scores under 500.

DwiuexHatedeu
05-10-2021, 04:13 AM
It isn't easy to imagine a scenario in which a person will have a good credit rating at the age of 19. The most important thing is not to have any debts at this age or a criminal record. The situation could play in your favor if your parents, guardians, or relatives took out a loan for your education at a university or college. If parents issued the loan in your name, this adds an item to the credit history. Also, an option is to give a loan for a car in your name. Pay attention to the battery costs at cararac.com (https://cararac.com/batteries/). Because if the prices are too high, you will have to take out a new battery loan; there is also some joke and meaning here.

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05-14-2021, 12:25 AM
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05-31-2021, 03:23 AM
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06-01-2021, 10:18 PM
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