You may also consider putting down a larger down payment or getting a cosigner or guarantor on your loan to improve your rate. Those with bad credit will need to supply additional proof of their financial history, including pay stubs, proof of residence, or other supporting documents that illustrate your ability to pay bills on time. Knowing the widely used FICO Score 8 and 9, and VantageScore 3.0 and 4. A score below 651 will put you in the high risk category, thus your application. You can buy a car with a 700 credit score, but even if you are under 700, there are still ways to get financing. The credit score to buy a car needs to range anywhere between 651 to 900. In 2020, Experian reported that the average credit score to secure a used-car loan was 657, with 721 being the average for new-car loans. While it’s always a good idea to get your credit score in its best possible shape before buying a car, if you’re already around the 700 range you will be good to go.
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