It seems like there are a lot of 50 to 60 year olds answering questions in the Senior Citizens section. I thought a Senior Citizen was a person over the age of 65 years of age. I understand that any age group can answer questions in any section and category but the 50 to 60 year olds seem to think that their age...
Credit Score: 500-579 â The minimum credit score to buy a car falls in this range. When your credit score is in this range lenders are hesitant to grant you a car buying loan. There are lenders that will, but they are sub-prime lenders and a down payment of some kind is required.
With an average score, you can still buy a house and a car, and have pretty good credit cards in your wallet. However, excellent credit can save you tons of money over the long run. For example, let's say that you buy a house with a $250,000 30-year mortgage and a new car for $30,000.Over the life of the loans, you'll pay about $23,500 more in interest if your credit is just average than you would if you were in the top tier of consumers.nd the difference between the 720-plus range and the average score is even more dramatic for used car loans (3.56% vs. 7.55%). On a 48-month used car loan, an average-credit borrower can expect to pay about 115% more interest, so the difference is indeed significant.