How low can a credit score be to buy a new car?
Answers:
Special Finance for auto loans is what I do for a living and I have got people approved with 0 score.
Go to a dealership that advertises Special Finance and talk to the manager they will be able to help you.
Car dealers are fairly easy. My sister was in the mid 500's range, and she got one (with a high interest rate).
Go into a dealer and fill out an application. They will tell you in 5 minutes if they can help.
600
the lower your credit score, the higher your interest rate will be. When you go to a dealership and they ask you if you want them to get you financing (sometimes they won't even ask you) they will submit your application to MANY different banks until one comes back and approves you.
Your best choice for a lower rate is to try to get approved with a credit union. if that doesn't work try to clean up your credit to get a higher score.
Be careful though, some dealerships are sneaky and will give you a higher interest rate even if you have good credit so that they make more money off of you.
Do some research before going out and buying a new car, you won't regret it!
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