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How Much Credit Do You Need To Buy A Car. On the other end of the spectrum, borrowers with scores below 669 are often considered “subprime.”. It’s a very basic process when you’re not worried about your credit standing in the way.
from venturebeat.com
If your credit score is 680 or above. To understand how auto lenders may tier their loan interest rates based on fico ® scores, review this example: If your credit score is very poor—less than 450—then you may not be able to get a car loan.
That means they’ll pay more to finance a car. If you purchased a fuel cell car after january 1 st, 2017, you’re no longer able to claim federal tax credits on these cars. They also offer leasing deals of 24 or 36 months on select models. If you have bad credit or no credit, you could still qualify for a car loan, but you should expect to pay more.
