What is a good credit score to buy a car?

A lower score means less favourable loan terms. And in many cases, you’ll end up paying significantly more in interest.There’s no one-size-fits-all answer, but this guide shows what to expect with different credit ranges. Then you can decide what’s “good enough” for you.No matter your credit score, someone will be willing to lend you money for a car.

While some lenders may deny you based on your credit, rest assured others will be happy to give you a loan — at least for the right price.Article content The riskier you are as a borrower, the more interest you’ll pay. And, you will have to jump through more hoops to be approved.Lenders start to offer better interest rates once your score breaks 600. If you don’t know your current credit score, you canAnd, if 725 feels light-years away, take comfort in knowing most car buyers don’t quite fall into this category.You can still get a car loan with a score lower than 700 but there will be questions.

A lender will likely grill you about the negative marks on your credit report. This may seem intimidating, but it’s actually an opportunity to plead your case.Article contentYou are working hard to fix them.You may be asked to bring in a co-signerA co-signer lessens the lender’s risk — if you fail to repay your loan, your co-signer will be responsible.Lastly, remember not all car dealers are created equal. Some are more accommodating than others, so if one denies you, move on to the next.

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