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Nairaland Forum / Nairaland / General / What Credit Score Is Needed To Buy A Car? (156 Views)
What Credit Score Is Needed To Buy A Car? / Credit Score Score Scale - The Best Way To Just Take Your Score Up A Notch / Recently I Got Very Bad Credit Score. Is There Any Hope To Get A Guaranteed Loan (2) (3) (4)
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What Credit Score Is Needed To Buy A Car? by bixbyfuneralser: 7:43am On Jan 25, 2023 |
Your credit score is important when it comes to applying for new loans, but technically, there’s no minimum score needed to be approved for buying a car. A better score can increase your chances of getting a loan with better terms (i.e. low rates), but you can still get an auto loan with a below standard score. The requirements vary from lender to lender, but there is no industry standard on a minimum score. All lenders create their own policies for financial factors and credit evaluation. They’ll look at multiple elements when considering you for a car loan, such as income, other debts, and on-time repayments from past loans. They can also use your auto-specific credit score, usually falling within a 250-900 range, and a higher score equals a lower risk for the lender. So, it’s always a smart move to pay your bills on time. For more info about best credit repair saltlakecity tx please visit our website |
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