What Credit Score is Needed to Finance a Car?

car finance paperwork with keys

Are you hoping to finance a car in Newnan with less than stellar credit? Many drivers aren’t aware what credit score is needed to finance a car and assume if you have bad credit, car financing is impossible. It’s not! Obtaining a car loan and making your payment on time every month is a great way to raise your credit score. Read this guide from the finance team at Scott Evans Nissan to discover what credit score is needed to finance a car and how to secure bad credit car finance. Then, be sure to check out our pre-owned vehicle specials!

Average Credit Score to Finance a Car

An average credit score of at least 721 is needed to finance a new car, and for a used vehicle, you’ll need a score of 657. But, some Douglasville drivers can obtain bad credit car finance loans if you don’t quite meet those scores. The only downfall is a higher interest rate. Check out the credit score breakdown below to see where you fall:

  • 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 Car Financing With Bad Credit

How do drivers in Villa Rica get a car loan if they have bad credit? For those whose score places them into the deep subprime credit score category, you can still get bad credit car financing:

  • Demonstrated Positive Financial Actions: Increase the likelihood of securing a loan by paying all bills on time, including credit cards and phone bills.
  • Bring Proof: Bring proof of monthly bills, like paycheck stubs, cell phone bill, or rent payments, to show you’re responsible despite a bad credit score.
  • Show Collateral: Being a homeowner and having the ability to put down a larger down payment will help as well – and could also get you a smaller interest rate.

Get Financing at Scott Evans Nissan

No matter what your credit score is, it is still possible to get car financing! Contact us at Scott Evans Nissan in Carrollton to learn more about bad credit car financing. Our finance team can help you apply for financing and help you secure a car loan!

Scott Evans Nissan 33.5880212, -85.0529572.