What are the pros and cons of shorter versus longer loan terms?

Apr 11, 2024 ... Applying for a luxury auto loan often requires a credit score of at least 700. Many lenders prefer a “very good” credit score of 740-799 or an “ ... Nov 20, 2018 ... In most cases, a credit score of 660 or higher secures a car with a decent interest rate. Some lenders will provide car loans to those who have ... Are you worried about getting an auto loan because your credit score isn't as high as you'd like? Don't worry. Read this to learn how much credit you need ... Feb 28, 2025 ... There is no universal credit score requirement for car finance. Each lender uses different criteria when assessing applications. Generally, a ... Jun 29, 2023 ... Most used auto loans go to borrowers with minimum credit scores of at least 675. For new auto loans, most borrowers have scores of around 730. Some lenders will use the industry-specific FICO auto score. You will likely need a credit score of 661 or higher to qualify for an auto loan with a good ... Oct 12, 2022 ... Depending on the credit model used, your score can vary widely with lenders. Read on below for the two most common scores, FICO and FICO Auto. Sep 8, 2022 ... Before you take out a loan to buy a new car, consider how that loan can affect your credit down the road. Jul 19, 2024 ... What credit score do you need to buy a car? · A good credit score to buy a car is often above 660, as you're then considered a "prime" borrower. Feb 17, 2024 ... What Credit Score Is Needed to Buy a Car? · Super prime: 781-850 · Prime: 661-780 · Nonprime: 601-660 · Subprime: 501-600 · Deep Subprime: 300- ...