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.

If you consistently make your car loan payments in full and on time, your credit score may improve! After a little time you may be able to refinance your car loan with Jim Glover Dodge Chrysler Jeep Ram FIAT.

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 trade in your current vehicle to save even more. 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 Cherokee Interior

    While the 2020 Jeep Cherokee is known for its high-powered performance, drivers also rave about the spacious interior and convenient technology this model offers. This SUV is a great option for families in need of more interior space, a safer way to connect, and more technology for an entertaining drive. Learn more about the Cherokee…

  • 2020 Jeep Wrangler Interior

      A great tradition of high performance and unmistakable style continues with the new 2020 Jeep Wrangler. You probably know about the famous 4×4 technology, but many people wonder about what’s inside this vehicle. Below, Jim Glover Dodge Chrysler Jeep Ram FIAT explores the Jeep Wrangler cargo space, technology, and other design features that complement great capabilities with comfort and connectedness….

  • 2020 Jeep Gladiator Colors

      When you want a truck that’ll take you down the roads less traveled, the Jeep Gladiator is a fit companion. Extraordinary adventures call for extraordinary style, and the 2020 Jeep Gladiator colors are here to make sure you never have a dull ride in Owasso. With multiple exterior and interior color options, you can…

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 ×

918-609-4201

Call Now

10505 N Owasso Expy • Owasso, OK 74055

Get Directions

Today's Hours:

Open Today! Sales: 8am-8pm

Open Today! Service: 7am-6pm

Open Today! Parts: 7am-6pm

Jim Glover Dodge Chrysler Jeep Ram FIAT

10505 N Owasso Expy Owasso, OK

Phone: 918-609-4201

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

Parts

Phone: 918-609-4201

10505 N Owasso Expy Owasso, OK

Mobile Parts

Phone: 918-609-4201

10505 N Owasso Expy Owasso, OK

Sales

Phone: 918-609-4201

10505 N Owasso Expy Owasso, OK

Mobile Sales

Phone: 918-609-4201

10505 N Owasso Expy Owasso, OK

Service

Phone: 918-609-4201

10505 N Owasso Expy Owasso, OK

Mobile Service

Phone: 918-609-4201

10505 N Owasso Expy Owasso, OK
36.278560 -95.845670
Jim Glover Dodge Chrysler Jeep Ram FIAT 36.278560, -95.845670.