0
Scores range from the low 400s to well past 800. The higher the score, the better the credit rating. Most lenders use a break of somewhere around 620 as the determining factor of a regular loan versus what is called a "sub prime" or higher-risk loan. Some lenders will not extend credit to people with under 620 credit scores and other lenders will offer those loans, but at a higher interest rate.
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
Can you get a car loan with a credit score of 616?
you can get approved with any credit score. they will just get you with the interest.
Can someone with a credit score of 512 get a car loan?
no
How do you make a 455 credit score to a 620?
Get a job for 6 months and then buy a car!! you will have high interest but its gonna help your credit score...
What is the lowest credit score a credit union will accept for a car loan?
660
If you have a 580 Transunion score and make around 55000 a year can you get a 90000 dollar loan with no money down Only have 425 a month going out for a car payment?
Nope. Income doesn't matter much if your credit sucks. Your credit score usually needs to be 620 or above to get a loan without a cosigner or collateral.
Can you get a car loan with a credit score of 580?
Yes, this is a fair credit score.
How important is your credit score when getting a car loan?
When one is trying to get a car loan, the importance of the credit score is mostly important when calculating the interest of the loan. A better credit score means a lower interest rate.
How good does your credit need to be for a car loan?
Nothing is published on what credit score you must have to obtain a car loan. There is information about having a high score means getting a better rate on your car loan.
Can you get a car loan with a credit score of 616?
you can get approved with any credit score. they will just get you with the interest.
Can someone with a credit score of 512 get a car loan?
no
How do you make a 455 credit score to a 620?
Get a job for 6 months and then buy a car!! you will have high interest but its gonna help your credit score...
What is the lowest credit score a credit union will accept for a car loan?
660
If you have a 580 Transunion score and make around 55000 a year can you get a 90000 dollar loan with no money down Only have 425 a month going out for a car payment?
Nope. Income doesn't matter much if your credit sucks. Your credit score usually needs to be 620 or above to get a loan without a cosigner or collateral.
Can I get a loan without giving my credit score?
No, you can't get a loan without the bank checking your credit score. But just because you have a low credit score, this doesn't necessarily mean you can't get a car loan. You may just get a loan with a higher interest rate.
What is the credit score you need for a car loan?
Unfortunately (for borrowers) some car dealerships will give a loan to anyone regardless of credit score. The problem you'll face is that you'll get unfavorable loan terms - specifically APR, or length of the loan. There's no specific FICO score that enables you to get a car loan, but you will pay a lot more if your credit score is bad. Before applying for a substantial loan - if you can - clean up your credit history for 6-12 months to help qualify you to get better contract terms.
How do I start to get credit to build a credit score?
To get credit to build a credit score, you must take a loan out on something such as a car or a house and then make payments. The more you are on time, the better your score will be.
Can I apply for a car loan with a credit score of 593?
This is a very poor credit score. You can apply but it is unlikely you will get a loan without a cosigner. If you are able to get a loan without a cosigner your interest rate will be very high as compare to someone with a good credit score of over 700.
