What is the impact of late payments on my credit score?

May 17, 2022 ... Your credit score can influence your auto loan's interest rate and total cost. Learn how you can help lower the rate for your next car. To buy a car, a credit score of around 660 or higher is typically needed to secure favorable loan terms, though higher scores can lead to better interest rates ... Make a higher down payment. This will mean that you'll need to borrow less money. Shop around to different lenders and see how their car loan rates compare. Mar 7, 2025 ... Key takeaways · There is no minimum credit score required to buy a car, but most lenders have minimum requirements for financing. · Most ... Jul 31, 2015 ... <---------------> Credit Score: 500-579 – The minimum credit score to buy a car falls in this range. When your credit score is in this range ... Mar 5, 2024 ... Quite frankly, I do not see the need to go into further debt. Buying a new car is not a smart idea. Think about all of that interest you will be ... Generally speaking, the average credit score to finance a car is 722 for a new vehicle and 655 for a used vehicle. Always dreamed of a shiny new car right off the lot? Get the financing you need for the vehicle you want. Fixed interest rates. Shop and buy knowing what you'll ... 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. But again, you ... What credit score is needed to buy a car?