What Credit Score is Needed to Finance a Car?

If you need a new or pre-owned car for your Council Bluffs commute, you may wonder what credit score is needed to finance a car. Dont’s worry; many auto dealerships, like Edwards Nissan, offer bad credit car finance options. We take all the hassle out of financing a car! Read on to learn more, and reach out to our finance specialists to hear about your options. Let’s get you behind the wheel of a new or pre-owned Nissan today!

Average Credit Score to Finance a Car

The average credit score to finance a car is 721 for a new vehicle and 657 for a pre-owned vehicle. Many Omaha drivers can qualify for bad credit car financing regardless of their credit score. However, the lower your credit score, the higher the interest rate. Here is a summary of the different categories for credit scores:

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

How to Get Bad Credit Car Financing

So, what credit score is needed for bad credit car finance around Bellevue? The credit score required to finance a vehicle depends on the lender. They will consider the following:

• Focus on Positives: If you can show that you’re making positive financial progress, you’ll increase your odds of qualifying for an auto loan. For example, if you haven’t missed a payment, but your credit score is low because of medical debt, you may still qualify for bad credit car financing.
• Bring Proof: Bring your pay stubs, mobile phone bills, proof of address, auto insurance documents, and proof of employment with you to apply for credit. Any documentation that shows you’re responsible and can pay off your auto loan despite your poor credit score will help.
• Show Collateral: If you own a house or can put down a substantial down payment of at least 25%, you’re more likely to qualify for auto credit and a decent interest rate.

Discuss Your Financing Options With Edwards Nissan

If you’re still unsure what credit score is needed to finance a car, we invite you to discuss your situation with the finance team at Edwards Nissan near La Vista. You can start the process by completing an online finance application and getting an estimate for the value of your trade-in. Don’t wait! Get started today!