What’s the average credit score to get a car loan?

I’ve never been able to maintain a good credit score, and I need to buy a car for work. What’s the average credit score to get a car loan?

Maintaining a good credit score can be very difficult at times. In most cases, lenders seem to feel comfortable with a score of 660 or more as it is a good benchmark that you are generally responsible with your finances. While having a score of 660 is a good starting point, you may still have to deal with slightly higher than average interest rates on your car loan. A score of approximately 720 should be enough to lower your rate substantially–although a higher score can mean even lower interest rates.
Credit scores can be somewhat subjective and each lender can view your score differently. The average credit score isn’t exactly a magic number that all lenders will find acceptable, so keep that in mind if you see differences in the rates you receive between lenders.
Remember that when you finance a vehicle, lenders will require full coverage insurance, so be sure to budget for this added cost. To find the best deals on car insurance, try using the number-one-rated car insurance app, Jerry. Jerry compares competitive quotes from more than 50 top providers and delivers the best deals to your phone in minutes for free. The average Jerry driver saves $879 a year on car insurance.
Michael Miserendino
Answered on Jan 03, 2022

Did this answer help you?

Ask us a question by email and we will respond within a few days.

Have a different question?

You can meet us at our office and discuss the details of your question.
Let Jerry’s experts help you find savings on your car insurance!
No long forms or spam · Get quotes from 40+ carriers
Find insurance savings (100% Free)
rating primary
4.7/5 Rating on App Store

Easiest way to compare and buy car insurance

No long forms
No spam or unwanted phone calls
Quotes from top insurance companies
Find insurance savings — it's 100% free