Can I get a car with credit score 702?

As 702 is a good credit score, you should not be limited in your loan options. You'll likely easily qualify for most credit cards, personal loans, auto loans, lines of credit and more. Since you're not in the top range of credit scores, you'll still always want to review your loan terms.
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Is 700 credit score good enough for a car loan?

A 700 credit score puts you firmly in the prime range of credit scores, meaning you can get a competitive rate as long as you shop around, have good income, and have a solid debt-to-income ratio. A 700 credit score gets an average car loan interest rate of 3% to 6% for new cars and 5% to 9% for used cars.
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How high should credit score be to buy a car?

In general, lenders look for borrowers in the prime range or better, so you will need a score of 661 or higher to qualify for most conventional car loans.
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What interest rate can I get on a car loan with a 700 credit score?

Having a 700 credit score puts you in the “prime” category for borrowing. According to Experian, the average rates for this category are 3.51% for new-car loans and 5.38% for used-car loans.
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What credit score does car dealerships look at?

The FICO credit score.

The FICO credit scoring model is the most commonly used credit scoring model by auto lenders and car dealerships, and is also the oldest and first-ever credit scoring model. It's estimated that 90% of auto lenders use the current FICO Score 8 model when making lending decisions.
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what your Credit Score GETS YOU at a Car Dealership



What can I get with a 700 credit score?

What a 700 credit score can get you. Your credit score is used by lenders to see if you qualify for financial products and to set the interest rate you'll pay. With a 700 credit score, you've crossed over into the "good" credit range, where you can get cheaper rates on financial products like loans and credit cards.
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Is 720 a Good credit score to buy a car?

A 720 is a good score, but you might save money if you improve your credit before you apply for a car loan. If you're shopping for a car loan with a credit score of 720 or higher, you're in a strong position. A 720 credit score is considered good by just about every lender.
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What credit score is needed for a 2021 car?

The recommended credit score needed to buy a car is 660 and above. This will typically guarantee interest rates under 6%.
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How much of a loan can I get with a 670 credit score?

With a 670 credit score, the FICO Loan Calculator now estimates that you might qualify for an APR around 7.89%. Based on that rate, your monthly payment on the same $38,000 auto loan would be $768.
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Is 705 a good credit score to buy a car?

According to Experion, having a 705 credit score is considered a good score. A 705 credit score is typically good enough for people to qualify for decent interest rates on loans, home mortgages, and car loans.
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Can I get a car loan with a 707 credit score?

707 credit score car loan options

A 707 score should easily secure you a car loan. On average, your score should get you an interest rate between 3.6- 4.6 and between – and 6 percent on a used car. Scores above 720 are more likely to net you the lower percentage rates.
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Is 702 A high credit score?

A 702 FICO® Score is Good, but by raising your score into the Very Good range, you could qualify for lower interest rates and better borrowing terms. A great way to get started is to get your free credit report from Experian and check your credit score to find out the specific factors that impact your score the most.
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What can you do with a 720 credit score?

That said, here are some things you might be able to get with a 720 credit score:
  • Car loans. ...
  • Home loans. ...
  • Credit cards. ...
  • Personal loans. ...
  • Pay on time. ...
  • Apply for credit sparingly. ...
  • Keep credit cards open. ...
  • Check your credit reports.
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Is a 750 FICO score Good?

Your FICO® Score falls within a range, from 740 to 799, that may be considered Very Good. A 750 FICO® Score is above the average credit score. Borrowers with scores in the Very Good range typically qualify for lenders' better interest rates and product offers.
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What is the minimum FICO score to buy a car?

There is no set credit score you need to get an auto loan. If you have a credit score above 660, you will likely qualify for an auto loan at a rate below 10% APR. If you have bad credit or no credit, you could still qualify for a car loan, but you should expect to pay more.
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What is considered a high car payment?

According to experts, a car payment is too high if the car payment is more than 30% of your total income. Remember, the car payment isn't your only car expense! Make sure to consider fuel and maintenance expenses. Make sure your car payment does not exceed 15%-20% of your total income.
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Is 700 a good credit score to buy a house?

A conventional mortgage is often best for those with a credit score of 700 or higher. (Generally, the credit score requirement is 620 and above.) Benefits of a conventional loan include: Buy a house with as little as a 3% down payment.
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What kind of car loan can I get with a 720 credit score?

Subprime borrowers don't get access to the same kind of deals that superprime borrowers often get. For the best, or superprime, rate, you will need what's considered excellent credit, but you don't need a perfect score: According to FICO, you'll typically qualify for the super-prime rate with an auto loan score of 720.
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Is 670 a good credit score for a car loan?

With a score of 670 to 679, you are in the second-best credit score range for auto loans and you will pay relatively low interest rates. If your score is between 670 and 679, you'll have to be careful about your credit if you're considering applying for a car loan.
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Is 729 a good credit score for a car?

A 729 FICO® Score is considered “Good”. Mortgage, auto, and personal loans are relatively easy to get with a 729 Credit Score. Lenders like to do business with borrowers that have Good credit because it's less risky. It gets even better.
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What would a FICO score of 700 be considered?

FICO scores range from 300 to 850. While anything below 650 is considered problematic, a score of 700 or above is prime.
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How much can I borrow with a 750 credit score?

For example, while a lender may permit you to borrow up to 95% of the property value if you have a 750 credit score, they may restrict you to no more than 80% of the property value if your credit score is 650.
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How do I get my credit score from 700 to 800?

How to Get an 800 Credit Score
  1. Pay Your Bills on Time, Every Time. Perhaps the best way to show lenders you're a responsible borrower is to pay your bills on time. ...
  2. Keep Your Credit Card Balances Low. ...
  3. Be Mindful of Your Credit History. ...
  4. Improve Your Credit Mix. ...
  5. Review Your Credit Reports.
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