Are you planning to buy a new car? Everyone would love to drive a new car but do you qualify for a car loan? Well if you are buying a car and thing of taking up a car loan then must have an in depth information about how to get a car loan and what credit score needed for car loan. Credit scores play an important role in securing a car loan. If you do not have a good credit score then chances are that you may face certain hindrances towards obtaining a loan. So by now you must be wondering what credit score do I need to get a car loan.
Well it is easy to know. As a tax payer in the United States you are entitled to three free credit score reports from the credit unions in the country. You can ask for your copy of credit score after every four months to keep a check on your score. The credit score report will provide you with a detailed analysis on how you have performed in the past 3 years as well as your current incomes and expenses. The FICO scoring system generally has a range from 300 to 850 within which they will score you from bad to good.
So if you think, “I have bad credit but need a car loan” then you need a score that is not less 650 on FICO scoring system... more the merrier. To obtain a car loan successfully you need at least a fair credit score. Now that you know your scores and you need car finance bad credit then you would need to go for the private party lenders who operate online through their websites.
In order to know more about credit scores and how it can determine whether you can get a car loan or not, please visit the website www.autoloansforeverydriver.com. This website will provide you with important information regarding credit scores and how you can keep yourself updated with your own credit score so that you can choose the right time to buy a car and apply for a car loan.
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