Right now the average credit score in the USA is 693. Now that isn’t bad when your looking to buy a car. But when you are in the market to buy a car you need to have your credit checked that is recommended to do. 27% of Americans don’t have their credit checked.
Most auto lenders will not talk to you about buying a car unless you know what your credit looks like or have cash in hand to put down on a new car. The credit score you need for a car is about 500 and above that will put you in a safe position to buy a car.
Now the car payments you get on the car is all depending on the interest rate you can get and there again it comes down to how good is your credit score? There are different types of credit score like:
- Good credit
- Bad Credit
- Poor Credit
- Sub prime Credit
You want to get to the good credit, the question is simple do you want to build up your credit to purchase a 300C one day or do you want to blow car payments on a car you can’t afford right now like a Jaguar? The choice is up to you and we can help set you up for success in the future when buying a car with low monthly payments.