What Credit Score is Needed to Finance a Car?

 

 

Oftentimes, car buyers in Collinsville are prone to stressing out about their credit score when hoping to finance a car like the new Jeep Gladiator and its engine specs – especially when trying to finance with bad credit. This makes sense, as your credit score may affect your APR (annual percentage rate), and it can even affect whether you’re eligible for a loan to begin with. Keeping this in mind, let’s explore the key things to consider when you’re trying to secure financing.

What’s the Average Credit Score to Finance a Car?

As of the third quarter of 2016, the average credit score needed to secure an auto loan on a new vehicle is 714, or 655 for a used vehicle. However, many drivers still managed to obtain a loan with both higher and lower than average scores. You should take note that the higher your credit score, the lower the interest rate you can get. Here are the categories credit scores are put into:

  • Superprime: 781 to 850
  • Prime: 661 to 780
  • Nonprime: 601 to 660
  • Subprime: 501 to 600
  • Deep Subprime: 300 to 500

How to Get Car Financing With Bad Credit

If you’re fretting about poor credit, you might not need to. Even with a less than stellar credit score, a car finance loan can be part of your future. That said, there are things you can do to have an easier time securing financing with bad credit in Tulsa:

Car keys on top of calculator
  • Focus on Positives: Oftentimes, drivers with poor credit are able to obtain a car finance loan when they can show they take positive financial actions. If your bad credit score is a result of business debt yet you’ve always paid your car payment on time, you may be able to find an understanding lender who will work with you.
  • Bring Proof: The proof is in the pudding! Show lenders you’re responsible by presenting your pay stubs, proof of address, auto insurance papers, cell phone bills, and prove to them that you’re presently employed.
  • Show Collateral: If you’re a homeowner or can manage to make a substantial down payment of at least 25 percent, you’ll increase the likelihood of qualifying for auto financing and getting a good interest rate.

You May Have the Credit Score Needed to Finance a Car at Jim Glover Dodge Chrysler Jeep Ram FIAT

Even if you’re worried about bad credit, give us a chance to help you find a vehicle you love near Broken Arrow with financing that works. You can use our payment calculator to get an idea of your monthly costs, and you can apply for financing online to get the process rolling early. If you have questions, feel free to contact us anytime. When you get behind the wheel of your dream vehicle, celebrate with dinner at one of Owasso’s best restaurants!

Hoping to buy a new work truck? Compare the RAM 1500 vs. Ford F-150 to see how RAM power can assist you on Claremore jobs.

 

Related Posts from Jim Glover Dodge Chrysler Jeep Ram FIAT

  • 2020 Jeep Gladiator Engine Specs & Details

    As one of the most heavily anticipated pickups to be re-introduced to the industry, the 2020 Jeep Gladiator is this year’s most-talked-about vehicle from Tulsa to Bartlesville. But what are its actual engine specs? If you want to learn more about the available Jeep Gladiator engine options or Jeep Gladiator specs, you’ll find them at…

  • 2019 Jeep Grand Cherokee Interior Features

      Searching for a 4×4 vehicle that performs as well off-road as it does moving your Tulsa area family from Point A to Point B? The 2019 Jeep Grand Cherokee has the dimensions, cargo space, technology, and comforts you need. Visit Jim Glover Dodge Chrysler Jeep Ram FIAT today and learn all about our extensive inventory of new Jeep Grand Cherokee…

  • 2019 Jeep Wrangler Towing Capacity

    The 2019 Jeep Wrangler can tow up to 3,500 pounds when fully equipped, whether you opt for the 2.0L turbocharged engine or the 3.6L Pentastar V6 engine. When you’re packing up your new Wrangler for a camping trip or dirt biking adventure near Tulsa, you won’t have to leave anything behind! Explore the Wrangler towing…

Saved
Saved Vehicles ×

SAVED VEHICLES

You don't have any saved vehicles!

Look for this link on your favorites:

Save

Once you've saved some vehicles, you can view them here at any time.

Contact
Contact Us ×

​918-212-8988

Call Now

10505 N Owasso Expy • Owasso, OK 74055

Get Directions

Today's Hours:

Open Today! Sales: 8am-8:30pm

Open Today! Service: 7am-2pm

Jim Glover Dodge Chrysler Jeep Ram FIAT

10505 N Owasso Expy Owasso, OK

Phone: ​918-212-8988

https://maps.google.com/?q=10505%20N%20Owasso%20Expy%2C%20%2C%20Owasso%2C%20OK%2074055

Sales

Phone: ​918-212-8988

10505 N Owasso Expy Owasso, OK

Mobile Sales

Phone: 918-708-9186

10505 N Owasso Expy Owasso, OK

Service

Phone: 918-376-0463

10505 N Owasso Expy Owasso, OK

Mobile Service

Phone: ​918-770-9060

10505 N Owasso Expy Owasso, OK
36.278560 -95.845670
[schema type="organization" orgtype="LocalBusiness" url="www.jimgloverdodge.com" name="Jim Glover Dodge Chrysler Jeep Ram FIAT" description="" street="10505 N Owasso Expy" city="Owasso" state="OK" postalcode="74055" country="US" email="inquiries@jimglover.com" phone="​918-212-8988" logo="https://www.jimgloverdodge.com/wp-content/themes/DealerInspireDealerTheme/images/logo.png"]
Jim Glover Dodge Chrysler Jeep Ram FIAT
Jim Glover Dodge Chrysler Jeep Ram FIAT
10505 N Owasso Expy
Owasso, OK, 74055 US
​918-212-8988
https://www.jimgloverdodge.com/wp-content/themes/DealerInspireDealerTheme/images/logo.png
Jim Glover Dodge Chrysler Jeep Ram FIAT 36.278560, -95.845670.