While shopping for a new car, you might wonder, “what credit score is needed to finance a car?” Keeping your score in mind as you shop for cars in Williston is always a good idea. To find out yours, credit score estimates are available online. Credit scores are one of the most important factors in obtaining a finance deal, but they aren’t deal-breakers. Drivers with bad credit can still find car financing. Ryan Chevrolet in Minot created this breakdown on the credit scores to finance a car below.
Typically, the higher your credit score is, the lower your payments will be. The average credit score to finance a car is 722, while the median credit score for used car buyers hovers around 655. Lenders usually make their decision based on FICO or VantageScore rating systems; it is always beneficial to work on improving your credit score.
Even with bad credit, car finance options are available to New Town prospective car buyers. But they depend on these factors:
Other ways to improve your bad credit score for car financing are:
Now that you know what credit score is needed to finance a car, learn about extended warranties and speak with the finance team at Ryan Chevrolet to discuss financing your next new or pre-owned vehicle near Bismarck! We can also help you research other finance & insurance-related topics, like what comprehensive insurance covers or what GAP protection covers!
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