How high does my credit score need to be, to get financing for a new suv?

Answer 1

A car is one of the easiest things to get financed!!! I would say as long as its over 600 you should be OK!!! And as long as you have no outstanding debts!!!

Answer 2

Hardly anything as there's so many places who will finance any warm body these days. However, the higher your score, the better the rate you will likely get and the more offers/routes you can take in financing, like via different banks instead of in-house financing. For an SUV, since they are such tough sales these days, you will likely get the best deal from in-house financing as they'll probably offer you 0% as long as you don't have bad credit. Something in the upper 6's should be good enough.

Answer 3

there are some places where you can get financed with no credit. the difference is how much you will pay the bank in interest for the loan. it can vary anywhere from like 5% (very good) to 30% (very high!) which if the SUV is 30,000 at 5% youd pay like a couple thousand dollars extra in interest, and at 30% youd pay near 10,000 extra. Pretty big difference. if your credit score is probably around 700, youll be set, with a very low interest rate. it also has to do with how big your down payment is, the bigger the better. just try and see what happens.

Answer 4

It really depends. I would suggest pulling up a FREE credit report from www.annualcreditreport.com to take a look at your score if you don't already know it. And if you do know it, what is it?

If you are 720 or above, you probably will be good to go. Many companies are advertising low APR's and even 0% if you finance with them. I received a car loan with Toyota at 3.9%.

Also, are you sure you need a new SUV? That was my biggest mistake buying a new vehicle. As soon as you drive off the lot, the value depreciates significantly. There are many good USED vehicles with low miles for thousands less.

Answer 5

I just purchased a new Chevy Tahoe. My credit was just over 600. Something like 613. I had to have a little more for a down payment than I was hoping for, but I got financed no problem. It pretty much comes down to how much you can have for a down payment. The higher your credit score, the less you have to put down. But I'm sure you knew that. I mean, if you can fork over a nice down payment or trade-in, you can get financed anywhere.

Answer 6

relies upon on who you pick to handle, this is a probability whether. they might ask for extra money down than they could from somebody with a score of 750, yet a 656 credit status isn't any skill for disapproval. you'll be high-quality. sturdy success!

Answer 7

Not high at all if you put a lot down.