The best way to answer the question, “What is the minimum credit score to buy a car?”, is that is depends entirely on what type of lender that you choose to apply with.
There are some lenders that will not accept anyone that has a FICO score of less than 725, which are considered prime lenders.
There are other companies that cater to people that have credit scores in the marginal and good credit range of 650 to 700. There are other loan companies that cater to people that have subprime, or credit scores of 650 down to 480.
A good credit score to buy a car can depend on many factors.
The year, make and model of the vehicle that you are looking for combined with your personal credit history and income. To qualify for prime lending, you will need to have a credit score of 700 or more and have sufficient income to show that your debt to income ratio is sufficient to comfortably pay back an auto loan.
If you have credit problems such as, late credit card payments or collection accounts, then you will need to look at subprime lending.
There are good subprime lenders and there are some subprime lenders that you would definitely want to stay away from. To get the best deal with the lowest interest rates, you can save a lot of money by comparing offers from multiple companies online. A good credit score to buy a car depends on a number of factors based on your personal situation.
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