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What Credit Score Do I Need to Qualify for a Car Loan?

If you’re considering getting a car loan, you might be wondering about the credit score required to qualify. Your credit score is an important factor that lenders consider when determining your loan eligibility and interest rate. Let’s dive into this topic and find out what credit score you may need to secure a car loan.

Understanding Credit Scores

Credit ratings are determined by credit scores, which range from 0 to 1200 and reflect your creditworthiness. They are typically calculated based on your credit history, including your payment history, outstanding debts, length of credit history, and other factors. The higher your credit score, the better your chances of securing favorable loan terms.

A good credit rating is 620 or more, while a bad credit rating is anything below that. The lower the number, the worse the credit rating. It is harder to get a loan from other lenders if your credit score is low.




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Improving Your Credit Score

If your credit score is below the desired range, don’t worry! There are steps you can take to improve it:

  • Pay your bills on time, as late payments can negatively impact your score

  • Reduce your debt-to-income ratio by paying down outstanding debts

  • Avoid opening new credit accounts unless necessary

  • Regularly check your credit report for errors and dispute any inaccuracies.




While a credit score of around 620 or higher is generally considered good enough to qualify for a car loan, it’s important to remember that lenders have their own criteria. If your credit score is lower there are still ways of securing a car loan.

Personalised Guidance and Support

Zoom Car Loans are experts in securing bad credit score car loans! We make sure that our secured loans are based on current situations and not past reports. We are backed by a team of dedicated finance brokers who take the time to learn about you and your purchase goals. Your personal broker will advocate on your behalf to find you the best deal possible from one of over 30 bank and non-bank lenders.