Average Credit Score To Buy A Car at Buying

Average Credit Score To Buy A Car. Let's take a look at what you need to know about credit history and auto financing. Excellent credit (750+) the average auto loan interest rate for people with an excellent credit score of 750 or higher is 4.98% for a new car and 5.23% for a used car.

There's no shortage of credit scoring models available. Improve your credit score before buying a car. What credit score should you have to buy a car?

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Generally speaking, the “right” credit score depends on the lender you’re interested in. For a used car, it was 656. Auto lenders use credit scores to determine how likely you. As your credit score drops, your rates will creep up—and once you hit 500 or lower, your interest rate will probably be around 14% or higher;