What is a typical credit score to be approved for a vehicle?

I just cleaned my credit report up. I tried to get a vehicle with a 527 score and got turned down, they told me to wait till my score went up. Any ideas on how long this takes, or how long I should wait?

What is a typical credit score to be approved for a vehicle?

Auto finance is what I do for a living and auto loans are based on the following factors;

1. LTV (loan to value).

2. Term.

3. Age.

4. Miles.

5. Down payment.

6. Time on job.

7. Time at residence.

8. Monthly income before taxes.

9. Credit score/profile.

10. Total debt to income ratio.

there are several lenders who buy down to a 500 score, you need to find a dealer that advertises Special Finance and talk to the manager, they can help you.

What is a typical credit score to be approved for a vehicle?

Save up and get a cash car. It%26#039;ll get better gas mileage if it%26#039;s not dragging a payment book behind it.

Take what would have been your payments and put it in the bank.

Of course spifiman is gonna disagree. If you dont finance a car he%26#039;s out of a job.

Debt Free is Definitely the way to be!

3 thumbs down. somebody is signing in under different names. that wouldn%26#039;t be spifiman would it? and giving himself 2 thumbs up.

Lets see he cant give himself a thumbs up but he can give me a thumbs down. But, if he signs in under 2 different names he can add 2 thumbs up to himself and another 2 thumbs down to me. shame on you. i just lost what little respect i had for you. its not the first time that i had a 3 thumbs down and you had a 2 thumbs up.

What is a typical credit score to be approved for a vehicle?

you%26#039;re going to need to wait about a year or so. credit scores don%26#039;t go up overnight, but they can fall at the drop of a hat. find a good used car that you can pay cash for. that way, when your credit DOES go up, you have a trade in that can count towards the new one. Meanwhile, you%26#039;re going to need to work on the score you have. Be sure and make all your payments on time!! and if you can buy something with cash, use your card, but pay it off in full when the statement comes in. it shows payment history. if you can%26#039;t pay it off every month, don%26#039;t use the credit card. you%26#039;ll only get yourself back into trouble. bad credit never goes away if you still owe a debt. it only gets sold to another debt collector.