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Saturday, October 24, 2009

What is the credit score minimum requirement for an auto loan?

Just having enough of a credit score to show that you are actually alive is enough for an auto loan. But on the other hand, the better the credit score, the better the interest rate you'll be offered. Anything lower than a 650 will probably get you a lousy interest rate, and require a bigger down payment.

What is the credit score minimum requirement for an auto loan?
Auto Loan Guide: http://autoloanguide.automobil... Report Abuse

Reply:There is no set minimum, but the lower your credit, the higher the interest.


Ive got a rough credit history...But I was able to get an auto loan for 8000....my interest is a bit higher, but I needed a good car. My loan is 4yrs, at 200 a month.





I went thru enterprise(yes they sell some of their rentals), and had NO problems. They financed me thru Americredit.
Reply:yeah, like the previous answer, loans are greatly influenced by credit... most likely you can get a loan, but the lower the credit score, the higher the down payment and interest rate, and the higher the credit score, the lower the down payment and interest rate will be. but no, i dont think there is a minimun... but if there is itl probably be from 400-450
Reply:Depends on whats on your credit history, how much money you will put down and the amount of credit you have.


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