If my car is older or has high mileage, will that affect my ability to refinance it?

Mar 18, 2025 ... The credit score required and other eligibility factors for buying a car vary by lender and loan terms. Still, you typically need a good credit ... So keep in mind that the credit tier you fit into can vary depending on who you're financing with. Conditions and Requirements. Depending on your credit score ... You don't need some magic credit score to get a car loan. Most people and most credit scores — good or poor — can get one ... Mar 1, 2021 ... Created and curated by the Fair Isaac Corp., FICO says its scores – which range from 300 to 850 – are used by 90% of the nation's top lenders. Generally speaking, the average credit score to finance a car is 722 for a new vehicle and 655 for a used vehicle. If your score is lower than 662, not to worry: almost one quarter of all used and new car loans went to drivers with credit scores below 600. Bad credit car ... Mar 19, 2025 ... For example, if your score is 750 or higher, you might be able to land an interest rate as low as 4%. But if your score sits in the 600–649 ... If you're worried about your credit score as you prepare to apply for a car loan, allow Joe Morgan Honda to give you some insight on credit scores needed to ... Average Credit Score For a New Car · Superprime (781 to 850): Drivers in this category can expect to get approved easily with the best interest rates possible. Generally speaking, banks require a minimum credit score of 600 to give an auto loan without any down payment. However, you CAN buy a car with a score of 400 ...