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What is the credit score you need to get a auto loan?the acurate auto loan you need is at least 750

Does your credit score go down if you close a credit card account but do not have any credit card balances and do have an auto loan?

Simply closing a credit card should have no influence on your credit scores. However, consumers need to have open credit accounts (including Two – Four revolving accounts), that are paid as agreed, in order to have the highest possible score. Sooner or later the lack of this multiplicity of credit accounts will be reflected in the point range. Rather than close this account, why not keep it open (the existing history will help your score), use it monthly for a petite purchase, pay it off in utter (and ON TIME). You will eventually need to open another revolving account and use it in the same manner for the highest possible scores. Be sure to time the opening of your next account for a time when your score can accommodate the deductions for the inquiry and “fresh account” status.

Why can’t you get an auto loan if you have good credit?

Credit .
There can be numerous factors as to why. If you are a fresh credit user, (you got your very first credit account within the past 3-5 years), then you’re considered to have an insufficient credit history. Even tho’ you may have never been late and always paid on time and kept your debt low, you may not have a long enough history that goes far back enough. Lenders generally want to know how you’ve been on your bills for a pretty good length of time, usually the past 3-7 years. If you’re only applying on the net for loans and keep getting rejected, then your credit score may be too low. Most online lenders go by your credit score only and usually have you have to have a score of at least 680 to qualify for any online lender. Reminisce, you have the right to obtain the reason why you were ejected for any loan from the bureaus your credit was looked up under via the fair credit reporting act. Reminisce, credit history means exactly that, a credit history. Just because you have one credit card and don’t charge anything on it for a long time, or if you have sporadic charges, (you charge something in January, then June, then December, then April the following year, for example) wont give you a credit history either. Its as plain as charging $20 a month onto a card and paying the balance in total the following month. Lenders want to know and get a clear indication of how you treat your bills month-to-month over an extended period of time as noted above. If you have sporadic charges or never use a credit card at all even however you have one, lenders have nothing to go on because you haven’t used any credit.

Does paying off an auto loan earlier improve one’s credit score?

Response .
This is a complicated question. It is a yes and no reaction but I will attempt..
If this is your only chunk of credit then you need to pay on this as long as possible..
If you have too much credit and you can pay off the loan early then do so..
One last one–if the car loan is with a finance company (beneficial, household, private finance etc)then pay it off as soon as possible because a finance company on your credit does not help your scores,they hurt your scores!!

If you have about 2500 owed on a car loan will paying off the auto loan early improve your credit score?

Response .
If the previous payments have been paid on due dates and not late. Paying each note on time is the greatest factor in credit scores..
Reaction .

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No, do not pay it off early. It looks better on your credit score if you pay it off by the deadline. Peak: Always pay a little more than the minimum payment.

How do you get an auto loan with a bad credit score?

Apply EverywhereApply. Apply. Apply. Eventually you should get accepted somewhere. However, a low credit score means that your APR can be fairly high and you may be asked to put more down than what the average’ consumer might put down for the same size loan with a better score. When you hear those commercials advertising “bad Credit, No Credit, no problem” ; they aren’y lounging to you they are being serious because they want to make sales but they want people with bad credit so they can make a ton of money in interest fees. Also reminisce your monthly gross pay will also have a factor in your down and monthly payments. Its very difficult to get car loans with bad credit but there are lot’s of sites available who gives the ensure to get approved for car loan with bad credit just apply there.

How can you get an auto loan with no credit or cosigner?

Response .
Usually no. You can attempt like a cheaper car dealership and see if they will, but they look at credit history to see if you made previous payments on time.

Does refinancing an auto loan affect your credit score?

the only thing about applying for a fresh loan that can affect your credit rating is having the credit score done by fresh companies. if you have a score done by just two companies that’s fine but if you have numerous credit checks this lowers your credit rating. so as long as you ran your previous loan well and paid on time, switching shouldn’t be a problem, just don’t let lots of companies credit check you. choose one and stick if possible. (retired financial advisor)

How hard do you thing it will be to get a auto loan at Legitimate with a credit score of 720?

i am Legal and i have a credit score of 720 this is the range were you are almost in the border line excellent credit score range and i have been approved for a mortgage loan of 45,000 sooooo its a superb chance you’ll get it. and ask for a discount on the loan or lower interest rate most likely you’ll get it…. loan officers paramour people like us butusually they wont tell you theperksof this credit score . but recall you must keep your score like this or they’ll smack you with a thicker intrest rate.

Can you get an auto loan with a fico score of 612?

As a finance coordinator for Mileone, a 612 score is good enough to qualify for a auto loan with a low interest rate. The key is to be able to display stable job and residential history with income grossing at least $2000 per month. If you have any questions, please feel free to call Heritage Auto 410-365-6900 ext 14355

What is the average credit score needed for private student loans?

Scroll down and it tells you exactly what I think you’re looking for. Good Luck.

How can you get a loan with 470 credit score?

Not sure why you are even asking. With credit scores (FICO, not Vantage Scores) of 300 – 850, you want to have your credit scores at least over 640+. If you can get them to over 700+, your payments would be so much lower. Research what the difference of payments are if your credit scores are higher and much lower. Do credit repair (legal by federal law) and love lower monthly payments, better interest rates, obtain jobs, etc. Please don’t even attempt to get a loan if your credit scores are in the 400 and 500 range. It just doesn’t make any sense! Get educated, get your credit scores higher!!

How do you get a loan if I have credit score of 400?

Don’t knowThere are other requirements for a loan besides your credit score. How much debt do you presently owe, How much do you make a year and how long have you had your job? Are you buying a house or renting and how long have you lived there? Do you own anything, have any money in a saving account, any assets? Are you married, and if so does your spouse work, do you have any dependents?

What is the credit score you need to get a auto loan?

Does auto loans improve credit?

yes of course but if you pay them on right time this will give you benefit to improve your credit score as well as credit history.

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Does paying off your auto loan affect your credit score?

Yes, for the better. Any loan that is paid on time or paid off is a plus.

What is the credit score you need for a car loan?

Unluckily (for borrowers) some car dealerships will give a loan to anyone regardless of credit score. The problem you’ll face is that you’ll get unfavorable loan terms – specifically APR, or length of the loan. There’s no specific FICO score that enables you to get a car loan, but you will pay a lot more if your credit score is bad. Before applying for a substantial loan – if you can – clean up your credit history for 6-12 months to help qualify you to get better contract terms.

Should you be able to get an auto loan if you already have a loan and you are already paying twenty-five percent of your income and have a 514 credit score?

“Should” is a relative term. With a credit score of 514, you most likely shouldn’t be acquiring any extra debts until you resolve your current situation, as that’s a very bad credit score. Whether you “could” is another matter. Some lenders will give anyone a loan regardless of credit, but with horrible loan terms that will only compound your financial well-being.

Loan 575 credit score?

Don’t knowThere are other requirements for a loan besides your credit score. How much debt do you presently owe, How much do you make a year and how long have you had your job? Are you buying a house or renting and how long have you lived there? Do you own anything, have any money in a saving account, any assets? Are you married, and if so does your spouse work, do you have any dependents?

Why cant I get an auto loan with my excellent credit?

It depends on many factors including income, length of job, time at residence, debt to income, and payment to income. Banks want to see stability as in your job and residence time. Also they want to see that you have the capability to pay. For example to make it effortless…. you make $4000 a month but your credit report shows you have $2500/month in payments and you pay $500 for rent. Your debt to income is 75%. That means a bank sees you have 1000 dollars a month to play with. Not 4000. Banks don’t like to go over 50. Also PTI payment to income. Banks like to stay under 18% usually. So take how much you make a month and times that by 18%,,,, that’s how much of a payment they say you can afford. Theres much more but without watching a credit report, I cant help. If anyone would like please email me [email protected] Experienced Finance Manager

What is the lowest possible credit score you can have to get an auto loan with out a co signor?

I was Eighteen (still am) with technically no credit when I was approved for an auto loan without the help of a co-signer. Four months or so before taking out the auto loan I was approved for a puny individual loan (~$1,200) from the same finance company as somewhat of a trust-builder I suppose. All I needed to embark was collateral, which was the title to my step-father’s car (with his permission of course). So don’t let anyone tell you it’s not possible or hard to acheive, because even with this economic environment, I was still able to, and I had a rough job history through a duo makeshift job agencies.

Who can you get an Auto Loan from with bad credit?

Yes, you can get Bad Credit Auto Loan. Responsechoose low price car.it will reduce your down payments. search online for the cheapest car loan quotes.it will help you more. if your are having previous auto loan then keep the copy of record with you.it will help to coax your lender that you are responsible and able to pay the loans.

Can you get a auto loan with a credit score of 565?

Ha! I can tell you from practice that it is possible. I had good credit but not a lot of it. As long as that’s the case you will be ok. Id attempt aCredit Union , My score was just over 600 and I got a $40k loan no prob.

Who does Auto loan financing with a 590 credit score?

Most buy here pay here, private dealership’s but, be ready to pay high interest rates. Also, most of the vehicles will have high mileage and minimum of $1000 down payment. Check your local listings. The best suggestion would be to use public transportation while you attempt to rebuild your credit.

Does paying off Auto loans in total at end of their term improve credit scores?

Yes it does. You have to also put other factors into considration in respect to your credit scores, like your debt ratio, your employment history, other debt etc… One thing that is certain is that your auto loan credibility will go up.

Can you get an auto loan with score of 647?

Yes, you can get one, but it may take a duo of attempts. Theinterest rate will most likely be a bit high as well. Still, youshould be able to get something. If you go to a thicker dealership,they have relationships with many of the major and smaller lenders.They truly want to make the sale, so they will keep rollingthrough them until they find someone that will approve you. A goodtip would be to do an online credit check ahead of time. The majortrackers, such as Experian, have it set up where you can disputethings online straight from your report. Dispute anything andeverything that is older, that you are pretty sure you paid, orthat you do not honestly believe that you owe. Chances are, you canget a few things taken off and bump up your score a few pointsbefore you go apply.

Can you get a loan with a credit score of 640?

This depends on where you are going to get the loan. If loaner agrees the risk is safe then the loaner will give you the loan but of course it will be at a higher interest rate then if your credit score was 815. A low FICO is often a strong hint that you are not credit worthy. If you are attempting for a loan that you will spend on wants, attempt to cut expenses and embark paying everything on time. Your FICO will rise within a duo of years and you will not have put yourself behind the eightball. Then, go for that well-considered loan. Always, have a down payment. Cars lose value going off the lot; always pay it down to that value. Houses, same thing. A 20% down will keep you from being underwater later.

What is the credit score you need to get a auto loan?

Is it possibleto get an auto loan with a 547 credit score?

It is unlikely that a bank would give a person a loan who has acredit score of 547. A good credit score for a loan would bebetween 700-800.

Can you get an auto loan even if you have bad credit?

Yes. If your credit is not as good as you would like, there are a few options available to you: * Ask someone to co-sign the loan (preferably someone with a good credit record) * Put more money down (reduces the amount of the loan) * Use a specialized lender that caters to people having less-than-stellar credit (e.g., Auto Credit Express) * Use an integrated auto seller who sells the car AND offers their own financing plans (not through a third-party financial institution)

Can you get loan with 589 credit score?

Technically you could, but you are going to have a very hard time finding any institution to finance the loan as a 589 is considered “Poor.”

Does your credit score affect your auto loan rate?

Absolutely it does! Your credit score is used by credit agencies to determine the amount of risk they are taking on. If your credit score is bad or low then you auto loan rate will be higher. However, if your credit score is good or high then your auto loan rate will be lower.

What credit score do you need to be approved for a prompt loan?

A credit score is not the only requirement for a swift loan! You will also need to demonstrate proof of a stable income. If you meet this criteria, a credit score in the 700-800’s is ideal. Credit scores in the upper 600’s are often readily approved with proof of job.

Where can you get loans with a bad credit score?

Sometimes it can be hard to get a loan with a bad credit score. A low credit score means that you are delinquent on payments, so banks might be more hesitant to give you a loan in fear that they may not get their payments. Call banks near you and ask if they work with people who have low credit scores.

What kind of credit score value do you need to qualify for used car loans?

When determining whether to finance a car, the loan servicer will look at your FICO score, among other criteria. A prime customer would have a FICO score above 700. If your score is lower than that, you won’t necessarily be disqualified, but your interest rate will be higher. If your score is less than 620, you may have difficulty finding a lender.

Can you get an auto loan if you have bad credit?

You can get an auto loan with bad credit, but the terms may not be what you want. In many cases, you will pay a significantly higher interest rate each month.

How can you get an auto loan if you have bad credit?

The easiest way to get an auto loan with bad credit is to look for car dealerships that specialize in bad credit financing. These dealerships work with banks that are ready to help poor credit. Usually, these banks are more pliable with down payments and other requirements.

Related video:

What is the minimum credit score to get an auto loan?

Individual lenders have different criteria, and may (or may not) look at other factors beyond the raw credit score. There indeed isn’t a single score below which it’s literally unlikely to get a loan at any rate from anyone.

Can you get a auto loan with bad credit where?

Its possible as long as you can afford paying about 25% apr, I’m in the same boat, just keep taking the bus and pay off your shut. I’m soooo depressed about it but its the only way. Oh, and make sure you diversify your credit, talk to your bank about a debt consolidation loan. Yes you can get an auto loan with bad credit it’s difficult thing but research more for this you will find the best solution just go to your car dealer and tell them about your current credit history if possible he/she will find you the best solution or go online there are thousands of websites available who suggest auto loans with bad credit or no credit go there and contact them they will call you back if you qualify.

Can you get an auto loan with a credit score of 548?

Credit score that low will not get you approved of a car loan unless the finance department can find a bank that can work with you to get a car loan approved. Please be fore warned that your APR % will be very high and take forever to pay off the car. If you truly need to get a auto loan for a used or fresh car, expect to pay it off for a long time or make very high monthly payments. Banks do approve certain people for loans at that score but they will jack up your APR %. Right now I bet you can get approved if you let them know you are attempting to rebuild your credit. Expect to fax over your pay stubs and tax comeback to make sure you have a job. but 98% of the time you will get denied for a loan because your credit score is very low.

What is the credit score you need to get a auto loan?

What does your credit score need to be to get a home loan?

There is no set credit score. It depends on the bank and your credit history. Some banks do not permit you to get a loan within Two years of a brief sale. Thanks for using answers.com!

Where can you get a loan with a 567 credit score?

Typically, NO. The average score in the USA is 687. At 567, you are 120 under the national average. Fix your credit and improve your credit score very first before applying for a loan.

Where can you obtain an auto loan if you have bad credit?

If you have bad credit it will be almost unlikely to get an auto loan without suggesting some form of collateral. The best place to look would be at the dealership where the car is being purchased, usually they will finance people with low credit scores.

If someone has bad credit can they get an auto loan?

You be able to get an auto loan if you have bad credit depending on the loan provider. Some loan agencies claim to fame is not checking your credit score. You may have to search many places and find a good loaner.

How can someone with a poor credit score get a good deal on an auto loan?

There are many loan companies that suggest auto loans for people with poor credit albeit the interest rates will normally be very high. A good place to embark is a price comparison site where you can inject your details and get many quotes for you to look through.

How can one get a bad credit auto loan?

If one has a poor credit history, there are still a few options for auto loans. One can negotiate a loan with their current financial institution, or obtain a loan from lenders such as Auto Credit Express or Valley Auto Loans.

What type of credit score does someone need to get a no down payment home loan?

If a person wishes to get a no down payment home loan he or she needs an acceptable credit score so that the loaner is wooed that the person has adequate income to repay the loan. Usually 620 or higher is expected.

What are the dangers of no credit auto loans?

No loan is without risks. Those who borrow money to make a big-ticket purchase have to consider all the factors. For no-credit auto loans, buyers should realize that dangers include high interest rates, high penalties for missed payments, and the possibility of losing title to their car if they cannot make the payments they’ve agreed to.

Where can one receive credit for an auto loan?

There are many different places where one can receive credit for an auto loan. One can visit such websites as Revolution Finance, Go Car Loans and Get Approved.

What credit score does one need to qualify for loans at a traditional bank?

One needs an average to excellent credit score to qualify for loans at a traditional bank. Consumers with a poor credit score can qualify for a high interest loan.

Where can one get credit auto loans?

There are a lot of places in order for one to get credit auto loans. However, it depends a lot on where one is living in order to have more details information on where one can get credit auto loans. One might want to check out the website capitalone.

Where can you get an auto loan refinance with bad credit?

There are hundreds of companies which will suggest you auto loan refinancing, however it is significant to research the company very first to make sure it is not a scam or a predatory lender. A website like Bankrate is both free and objective, so it is a good resource to find safe and reliable refinancing companies.

Where can one find more information about credit score for auto loans?

The best way to find more information about credit scores for auto loans would be to obtain one’s own credit score. Also check with the car dealership one is seeking to purchase a vehicle from to see if a credit score is required.

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