My credit score is 730 and I want to obtain a car loan. What credit score do you need for a car loan?.
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Is 730 a good credit score for car loan?
Many lenders consider a credit score of 730 to be good. “Good” score range identified based on 2021 Credit Karma data. You might be more likely to be approved for mortgages and auto loans with favorable terms and lower interest rates if you have good credit scores.
What kind of loan can you get with a 730 credit score?
You might be eligible for a personal loan, car loan, or home mortgage with a credit score of 730. While you should be careful not to take on too much debt, a credit score of 730 and a respectable monthly income should allow you to be approved for a variety of different financing options.
What credit score do I need to buy a $30 000 car?
In general, lenders seek out borrowers in the prime range or better, so you will need a score of 661 or higher to be eligible for the majority of conventional car loans.
What kind of car payment can I get with a 720 credit score?
Between 660 and 719 credit scores: The average auto loan rate for a new car is 4. 68% compared to the typical auto loan interest rate for a used car of 6 04%. For those with credit scores of 720 or higher, the average auto loan interest rate is 3. 65%, while a used car’s typical auto loan interest rate is 4. 29%.