Question: What Is A Decent Credit Score To Buy A Car?

Question: What Is A Decent Credit Score To Buy A Car?

The average credit score to buy a new car is 713; it’s 656 for a used-car loan.

But nearly 20% of car loans go to borrowers with credit scores below 600, according to Experian.

Almost 4% go to those with scores below 500.

What is considered a good credit score to buy a car?

Average Car Loan Rates by Credit Score

Credit Score RangeNew Car LoanUsed Car Loan
Super Prime: 781 to 8502.6 percent3.4 percent
Prime: 661 to 7803.59 percent5.12 percent
Nonprime: 601 to 6606.39 percent9.47 percent
Subprime: 501 to 60010.65 percent15.72 percent

1 more row

Photo in the article by “Flickr” https://www.flickr.com/photos/pedrosimoes7/3152990513