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.
You know itâs time to for a new vehicle, but thereâs one thing holding you back: your credit. You arenât sure what credit score you need to buy a car. If you absolutely must get another vehicle, you can probably find a way to finance it. The real question is what it will cost you. The better your credit, the better your options, and a big factor will be your credit scores. According to data from Experian Automotive, the difference in interest rates on a new car loan for someone with super prime (excellent) credit versus someone with subprime (very poor) credit is nearly 10 percentage points.