A 715 credit score is considered "good," according to FICO. This means you have more auto loan options and can expect interest rates between 4.68%-6.04%.
Ultimately, a 715 credit score will not be a barrier to purchasing a car, but it won't secure you the best annual percentage rates — those below 3% for a new car — which will likely go to people with a score above 780.
As you can see, a 700 credit score puts you in the “good” or “prime” category for financing, making 700 a good credit score to buy a car. While it's always a good idea to get your credit score in its best possible shape before buying a car, if you're already around the 700 range you will be good to go.
A FICO® Score of 715 provides access to a broad array of loans and credit card products, but increasing your score can increase your odds of approval for an even greater number, at more affordable lending terms.
A 715 credit score is considered a good credit score by many lenders. “Good” score range identified based on 2021 Credit Karma data. With good credit scores, you might be more likely to qualify for mortgages and auto loans with lower interest rates and better terms.
718 credit score car loan options
A 718 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.
The credit score you see if you're signed up for TransUnion Credit Monitoring or if you purchased a credit score with your credit report is based on the VantageScore® 3.0 model. Scores in this model range from 300 to 850. A good score with TransUnion and VantageScore® 3.0 is between 720 and 780.
As 730 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.
A FICO® Score of 725 falls within a span of scores, from 670 to 739, that are categorized as Good. The average U.S. FICO® Score, 711, falls within the Good range.
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.
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.
The recommended credit score needed to buy a car is 660 and above. This will typically guarantee interest rates under 6%.
The amount of money that you can borrow with a 700 credit score will depend on the lender and the type of loan that you are applying for. However, you can expect to be approved for a loan of up to $100,000 with a good interest rate.
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.
For best results, you should aim for at least a FICO score of 660 before applying for a new car loan.
725 credit score car loan options
A 725 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.
A 725 FICO® Score is considered “Good”. Mortgage, auto, and personal loans are relatively easy to get with a 725 Credit Score. Lenders like to do business with borrowers that have Good credit because it's less risky. It gets even better.
The 10 percent of mortgages had rates of 4.25 percent or higher. 700 to 725: The median rate offered is still 3.75 percent. But borrowers with the costliest loans had rates of 4.12 percent and up. 725 to 750: Borrowers who have credit scores above 725 are introduced to the next tier of lower interest rates.
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.
A 735 credit score is considered a good credit score by many lenders. “Good” score range identified based on 2021 Credit Karma data. With good credit scores, you might be more likely to qualify for mortgages and auto loans with lower interest rates and better terms.
A FICO® Score of 736 falls within a span of scores, from 670 to 739, that are categorized as Good. The average U.S. FICO® Score, 711, falls within the Good range.
FICO Auto Score has several versions. Most auto lenders use FICO Auto Score 8, as the most widespread, or FICO Auto Score 9. It's the most recent and used by all three bureaus. FICO Auto Score ranges from 250 to 900, meaning your FICO score will differ from your FICO Auto Score.
Just like a standard credit score, your industry-specific score helps determine future loan terms and interest rates. The FICO Auto Score considers your usual credit behaviors but puts more emphasis on how you've managed auto loan payments in the past.