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It depends entirely on where you try to buy the car. You can get a car at a buy here/pay here kind of place with almost no credit. However, the finance charges and penalties for late paymetns are very stiff. You can get a car from a major dealer with a credit score of around 700.

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โˆ™ 2006-04-05 11:56:47
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Q: What is the minimum credit score for getting a car loan?
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Related questions

what is the minimum credit score for an FHA home mortgage?

If you have some credit then you will typically need a minimum middle credit score of 580 to qualify for a FHA loan.


Minimum credit score for TERI loan?

A score of 670 would get you a teri loan. However, note that credit score is not the only requirement. But it sure go a long way.


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 easy is it to get a Bad Credit Mobile Home Loan?

Not easy. Most lenders require a certain credit score in order to get a loan. Even if you just barely make the minimum requirement you shouldn't expect a good rate. With the company I work for the minimum is 640 on the credit score.


What credit score is required for a bank of america mortgage loan?

I found on several websites where there were FAQ, they would say there is no minimum credit score required. It all depends on the loan manager as to if you qualify.


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.


What is a good credit score for getting a car loan?

A good credit score for getting a car loan is 740 to 850, and the interest rate is only 3.2% on average. An average credit score is 680 to 739, and the interest rate is 4.5% on average. A sub-prime credit score is 680 and below, and the interest rate is 6.5% to 12.9% on average.


When buying a house, will a loan company tell you your credit score?

Any type of loan company you talk to will be able to let you know your credit score. As long as you have a really good credit score you should have no problem getting a second home.


What is the perfect credit score in order to get a home loan?

A "credit score" is one of the major factors that a mortgage lender will review as to whether or not the individual will receive the opportunity to acquire a mortgage/home loan. The minimum/acceptable credit score is 650. 650 will allow the opportunity to a chance of acquiring a mortgage/home loan.


Is it better to get a car loan from a credit union, a bank, or a loan shark?

It would usually be cheaper and more ideal to get your loan from a credit union, but this can change, depending on your credit score! The second best would be getting your loan from a loan shark.


What is the lowest credit score to qualify for a home loan?

You need at least a credit score of 660 to qualify for a home loan For a FHA refinance or purchase the minimum credit score is 620. There are some lenders that will go down to a 580 credit but it just depends on some other factors such as debt to income, loan to value, etc. Veronica Rodrigues Voyage Home Loans


Is it possibleto get an auto loan with a 547 credit score?

It is unlikely that a bank would give a person a loan who has a credit score of 547. A good credit score for a loan would be between 700-800.


What is the minimum credit score to get an auto loan?

Individual lenders have different criteria, and may (or may not) look at other factors beyond the raw credit score. There really isn't a single score below which it's literally impossible to get a loan at any rate from anyone.


Can I get a loan for low CIBIL score?

It's difficult but not impossible to get a loan with a low credit score. You may still get a loan at a higher rate of interest as the financial institution may find your profile risky due to past defaults. However, before applying for a loan always check your current credit score as it's the first step to check if your loan will get approved or not. The minimum required credit score is 750. If you have 750 and above the chances of getting a loan are higher. In case, if your score is below that then you need to improvise it and then apply for a loan. You can always reverse your bad credit score into good score by concentrating on certain parameters which had defaulted earlier such as: Payment history: 35% Amounts owed: 30% Length of credit history: 15% How many types of credit in use: 10% Account inquiries/New credit: 10% Your credit score only affects when you start defaulting on your payments. And ones your score is affected the chances of you getting unsecured loan minimises. In this case, you can start rebuilding a new credit history by applying for secured loan or credit cards. Secured loans has a positive impact on your score and also helps you to increase the score. Once you rebuild a credit history you can then think of applying for a small loan amount.


What are the requirements in order to obtain a FHA loan?

Minimum credit score is 620 (according to our banker at Chase). The better your score, the better your interest rate. There aren't any banks that will finance anyone without a minimum credit score and a low debt to income ratio.


Will multiple credit card inquiries affect the chances of getting a home equity loan?

Multiple inquiries will not affect your chances, the only way it would affect you getting a home loan is if your credit score was impacted. Be careful with applying for credit cards, the inquires affect your score negatively.


Does your credit score affect your auto loan rate?

Absolutely it does! Your credit score is used by credit agencies to determine the amount of risk they are taking on. If your credit score is bad or low then you auto loan rate will be higher. However, if your credit score is good or high then your auto loan rate will be lower.


I need a house loan, but how can I be approved with my bad credit score?

At the present getting loan with bad credit is hard. You will need to take some steps to clean up your credit first.


Is having a 600 credit score hinder me from getting a home loan?

Hi, I think it will be hard on you. I got denied many times with a 680 credit score. I thought that was a high score.


Can you get a car loan with a credit score of 580?

Yes, this is a fair credit score.


What information do you need to get a loan?

Your credit rating information and job status are required for getting any kind of loan in the present world. If you have good credit score and stable income, you will get loan immediately.


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.


Which banks would give you a loan if your credit score was 220?

The minimum credit score (CIBIL Score) is 300 and if your credit score is 220 so don't worry about it. I am giving some loan companies names that have a less interest rate on the loan amount.Following are some banks that provide you a loan with the lower Credit Score:1. LoanMart2. Bajaj Finance3. Ujjivan4. MudraKwik5. IIFL


Does your spouse's credit score matter when getting a mortgage?

If your spouse is going to be on the loan, then yes it does matter.


Can you get a home depot project loan with a credit score of 620?

It is possible to get a Home Depot project loan with a credit score of 620. Home Depot will pull a credit report to determine eligibility of a credit loan.