Like it or not, in today’s automotive landscape, we tend to take the ownership and purchasing of a new or used vehicle for granted most of the time. It’s easy to do so when you have a financial situation that is healthy, but much more difficult when your backing isn’t where you’d like for it to be. For this reason, we get a lot of questions such as “What credit score should you have to finance a used car?” We’ll take you through them today!
Ranges of credit scores and their likeliness of getting a car loan
Most credit institutions measure consumers’ scores on a point scale from 300-850, determined by factors such as account balances, number of missed payments, duration, and more. We’ve listed the scale below, so check it out to see where you stand:
- 300-599 – Bad Credit
- 600-650 – Poor Credit
- 651-700 – Fair Credit
- 701-759 – Good Credit
- 760-850 – Excellent Credit
Obviously, the higher the score, the better. If your score falls in the high “Fair” to “Excellent” ranges, you should have little problems getting a great financing deal with us here at Carville’s Auto Mart.
Read More: How to get the best trade-in value for your used car
Buy a used vehicle with bad or poor credit in Grand Junction CO
For one reason or another, you might be finding yourself with a credit score in the “Bad” or “Poor” territory. We know that you still need reliable, inexpensive transportation by your side, however, and that’s why we’ve made it easy to get approved for financing no matter the situation! We offer a loan calculator and credit approval module right here on our website, and we’ll get you the best deal for your standing. View our inventory and contact us today for more information!
Read More: Should you trade or sell your used vehicle?