What are the typical interest rates for car loans based on credit score?

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. Ideal Credit Score to Finance a Car · Average Credit Score to Finance a New Car: 714 (“Prime”) · Average Credit Score to Finance a Used Car: 655 (“Non-Prime”). Jan 24, 2025 ... There's no universal minimum credit score required for purchasing a car. However, credit scores play a central role in the car-buying process. An average new car buyer has a credit score of around 722. For used car buyers, the average hovers around 655. What Credit Score Do You Need to Get Approved for an Auto Loan? There is no minimum credit score for buying a car, but your credit history does impact the ... Use the Credit Score Estimator on our page to begin planning the purchase of your new Mitsubishi vehicle. Click here to get started today. Apr 6, 2023 ... The minimum credit score to buy a car can vary by finance company. Generally, a score of 600 or better can help you qualify for auto financing. 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 ... Credit scores are maintained by the national credit bureaus and include debt like credit cards, auto loans or student loans. Your score is influenced by ... Mar 31, 2025 ... For the FICO® Score☉ , a good credit score is 670 or higher. Here's what you need to know about how your credit score affects a car loan, what ...