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.
However, these loans are often reserved for particular new models of cars and require credit scores above 700. With a credit score of 650 and auto loan interest rate below 5% would be great. Chances are, though, according to USA Today you will be shopping in the range of 6%-9%.eyond credit scores, there are questions like, what is a good interest rate for an auto loan? According to bankrate.com the average auto loan rate on a new car for a 5year loan was 4.15%.