What is the Average Credit Score to Buy a Car?

keys on paperwork

Plenty of drivers in Pineville, Opelousas, and everywhere else opt for financing when buying vehicles. A good credit score is one of the keys to obtaining a great interest rate on a car loan and keeping your buying costs reasonable. So what credit score do you need to buy a car? Review the best credit scores to finance a car today with Walker Mazda and contact our finance department to start the purchasing process! 

Average Credit Scores For Vehicle Financing

The average credit score for financing a car, truck, or SUV is in the high 600s for a used car and the high 700s for a new car. Scores are broken down into the following categories: 

  • 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 Vehicle Financing With Poor Credit

If your credit score is not where you want it to be at the moment, you can still obtain vehicle financing. Should you wish to move forward with bad credit car financing, put the following tips into practice: 

  • Emphasize Financial Positives: Have you always paid your credit card bills on time? What about your other bills–have they usually been paid on time as well? Focus on what you do right financially and furnish proof, such as your credit card company statements. Any additional proof you can provide that shows you earn a living, like your most recent pay stubs, is helpful as well. 
  • Show Your Collateral: Qualifying for auto financing gets easier when you have collateral examples, such as owning your home. If you can provide a large down payment (25%), you’ll further increase your chances for a good interest rate. 

Start the Auto Financing Process With Walker Mazda Today

Are you ready to begin your vehicle financing journey? Call 318-599-6713 or contact us online today to get started. Browse our new and used inventories and let us know which Mazda vehicle is right for you! Our team is here to work with you through every phase of the buying process!

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