What Credit Score is Needed to Finance a Car?

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If you’re in the market for a new car and have bad credit, you might ask yourself, “What credit score is needed to finance a car?” You might be interested in bad credit financing but are not sure what exactly to expect from the entire process. Although a bad credit car loan around Denver might concern you, it’s actually the best way to build your credit. Let’s take a closer look at the best credit score to finance a car with Fisher Acura today! For more information, feel free to contact us anytime!

Average Credit Score to Finance a Car

So, what credit score is needed to finance a car around Aurora? The average credit score to finance a car is around 721 for a new car, and 657 for a used one. However, Boulder drivers will allow you to do a bad credit car finance loan. However, the lower your credit score, the higher you’ll pay on your monthly payment. Let’s check out the different categories of credit scores below:

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

How to Get a Bad Credit Car Finance Loan

So, what credit score is needed to finance a car? It usually depends for Boulder drivers, as those with a subprime credit score are able to finance a car loan, however, keep these few tips in mind:

  • Focus on Positives: If you have proof that you’ve been responsible financially, you might be able to secure your loan. So, for example, if you’ve made on-time payments for your credit cards, you could have a better choice of getting a bad credit car finance loan.
  • Bring Proof: To make your case, be sure to bring pay stubs, proof of address, cell phone bills, auto insurance documents, and proof that you’re currently working. In short, any evidence that you have to display to your local Boulder dealership that you’re a sound investment.
  • Show Collateral: If you’re a homeowner or can put at least 25% down for your vehicle, you’ll likely be able to secure a car loan.

Meet With The Fisher Acura Finance Center Today!

Now that you know more about your bad credit car finance options, come stop by Fisher Acura and talk to our finance center to discuss your individual situation. We can provide you with some of the best advice around Boulder, and help you save on your monthly payment through our new vehicle specials offered near Broomfield!

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