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.
If youâre buying a used car and financing the purchase, youâll need to figure out how much money you want to put down and how much you want to finance. Experts generally advise putting down at least 10 percent to 20 percent of the purchase price when youâre buying a used car or a new car. A down payment of that size helps protect you against continuing depreciation, which is generally about 20 percent a year. It also reduces your monthly payments.