6th December 2019

thebalance
17

How do I buy a car with bad credit?

Go into the process as informed as possible to avoid being taken advantage of.
  1. Work on your credit before going car shopping.
  2. Avoid additional bad credit items.
  3. Check current interest rates before buying a car with bad credit.
  4. 4. Make a bigger down payment.
  5. Know what you can afford to pay.
  6. Get pre-approved.

Likewise, what credit score is needed to buy a car with 0 interest?

High Scores Pay Off. The first is the high credit score that is often required. According to Experian Automotive, the average credit score of borrowers who secured interest rates of 1% or less on their auto loans in the first quarter of 2014 was 748. (The scoring model used was VantageScore 3.0, which goes up to 850.)

How good is a credit score of 650?

A 650 credit score on the FICO score scale of 300-850 is considered fair. People with this credit score may be considered subprime borrowers and may be offered higher interest rates or less ideal terms for credit cards and loans. Applicants with scores in this range are considered to be subprime borrowers.
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