What Credit Score is Needed to Finance a Car?

Credit Scores
 

If you need a new or pre-owned car for your Fort Myers commute, you may wonder what credit score is needed to finance a car. Dont’s worry; many auto dealerships, like Val Ward Cadillac, offer bad credit car finance options. We take all the hassle out of financing a car! Read on to learn more, and reach out to our finance specialists to hear about your options. Let’s get you behind the wheel of a new or pre-owned Nissan today!

Average Credit Score to Finance a Car

The average credit score to finance a car is 721 for a new vehicle and 657 for a pre-owned vehicle. Many Cape Coral drivers can qualify for bad credit car financing regardless of their credit score. However, the lower your credit score, the higher the interest rate. Here is a summary of the different categories for credit scores:

  • Superprime: 781-850
  • Prime: 661-780
  • Non-prime: 601-660
  • Subprime: 501-600
  • Deep Subprime: 300-500

How to Get Bad Credit Car Financing

So, what credit score is needed for bad credit car finance around Naples? The credit score required to finance a vehicle depends on the lender. They will consider the following:

  • Focus on Positives: If you can show that you’re making positive financial progress, you’ll increase your odds of qualifying for an auto loan. For example, if you haven’t missed a payment, but your credit score is low because of medical debt, you may still qualify for bad credit car financing. 
  • Bring Proof: Bring your pay stubs, mobile phone bills, proof of address, auto insurance documents, and proof of employment with you to apply for credit. Any documentation that shows you’re responsible and can pay off your auto loan despite your poor credit score will help. 
  • Show Collateral: If you own a house or can put down a substantial down payment of at least 25%, you’re more likely to qualify for auto credit and a decent interest rate.

Discuss Your Financing Options With Val Ward Cadillac

If you’re still unsure what credit score is needed to finance a car, we invite you to discuss your situation with the finance team at Val Ward Cadillac near Bonita Springs. You can start the process by completing an online finance application and getting an estimate for the value of your trade-in. Don’t wait! Get started today!

More from Val Ward Cadillac

  • 2025 Cadillac XT5 Interior

      Are you shopping around Cape Coral for an SUV that’s luxurious? The 2025 Cadillac interior features can include top-shelf amenities like heated driver and front passenger seats, HD surround vision, and an UltraView power sunroof. The Cadillac XT5 is also exceptionally roomy, with up to 63 cubic feet of cargo space and a Cadillac XT5…

  • 2025 Cadillac XT4 Exterior: An Overview

      Stunningly modern and distinctive, the 2025 Cadillac XT4 exterior is sleek, sporty, and retains the je ne sais quoi that makes a Cadillac, a Cadillac. In this overview of the exterior of the latest XT4,, we’ll consider such elements, including the 2025 Cadillac XT4 colors and features, as well as the Cadillac XT4 size. …

  • 2025 Cadillac XT6 Interior

      Cadillac has had the iconic luxury SUV for decades thanks to the Escalade. If you want an exceptional new vehicle for drives in Fort Myers but don’t want as much space as the Escalade, the 2025 Cadillac XT6 interior has what you need for weekly errands around Cape Coral and fantastic weekend getaways to your favorite…

Get Directions

12626 S Tamiami Trail, Fort Myers, FL, 33907
Val Ward Cadillac 26.55877, -81.87245.