Is 760 a good credit score to buy a car?

Asked by: Prof. Calista Koch  |  Last update: February 9, 2022
Score: 4.3/5 (45 votes)

Generally speaking, credit scores above 760 are considered 'excellent' by almost all lenders. Anyone having credit scores in the 760 and higher range should have little trouble finding lenders willing to give them auto loans at interest rates reserved for the most creditworthy customers.

What is a good credit score to buy a car?

A good credit score to buy a car is often above 660, as you're then considered a "prime" borrower. There's no industry-wide, official minimum credit score in order to qualify for an auto loan. Generally, the higher your credit score, the better terms you're likely to get on the loan.

What kind of loan can I get with a 760 credit score?

A 760 credit score is often considered very good — or even excellent. With excellent credit, your credit scores become more of a bridge and less of a roadblock — a high score can help you qualify for premium rewards credit cards, auto loans and mortgages with the best terms.

Can I buy a car with 761 credit score?

To get an auto loan without a high interest rate, our research shows you'll want a credit score of 700 or above on the 300- to 850-point scale. That's considered prime credit, and lenders don't have to price much risk into their rates.

What does a 760 credit score mean?

Your score falls within the range of scores, from 740 to 799, that is considered Very Good. A 760 FICO® Score is above the average credit score. Consumers in this range may qualify for better interest rates from lenders. 25% of all consumers have FICO® Scores in the Very Good range.

what your Credit Score GETS YOU at a Car Dealership

33 related questions found

Can I get a car loan with 764 credit score?

A 764 FICO® Score is considered “Very Good”. Mortgage, auto, and personal loans are easy to get with a 764 Credit Score. Lenders like to do business with borrowers that have Very Good credit because it's less risky.

Is 760 a good credit score UK?

A credit score of 566-603 is considered fair. A credit score of 604-627 is good. A score of 628-710 is considered excellent (reference: https://www.finder.com/uk/transunion). Equifax scores range from 0-700.

How long does it take to get a credit score of 760?

It will take about six months of credit activity to establish enough history for a FICO credit score, which is used in 90% of lending decisions. 1 FICO credit scores range from 300 to 850, and a score of over 700 is considered a good credit score. Scores over 800 are considered excellent.

Is 760 a good credit score in Canada?

In Canada, according to Equifax, a good credit score is usually between 660 to 724. If your credit score is between 725 to 759 it's likely to be considered very good. A credit score of 760 and above is generally considered to be an excellent credit score.

What credit score do you need to buy a 50k 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.

Is 750 a good credit score to buy a car?

A score of 750 points or higher is considered excellent credit. These borrowers are seen as having a very low risk by lenders, so they get charged less interest. If your credit score is in this range, you may qualify for financing incentives and loan deals offered by auto makers.

Is 740 a good credit score to buy a car?

The higher your credit score, the lower the interest rate you'll be offered when you apply for a car loan. Credit scores range from 300 to 850, and, while you may see different scales used to describe credit scores, generally the scores are ranked as follows: 800 to 850 = exceptional. 740 to 799 = very good.

How much can I borrow with a 800 credit score?

The average mortgage loan amount for consumers with Exceptional credit scores is $208,977. People with FICO® Scores of 800 have an average auto-loan debt of $18,764.

Is 730 a good credit score to buy a car?

According to Credit Karma, a 730 credit score is considered good. Although it's not in the top tier, it's definitely strong enough to garner consideration for a car loan at a good interest rate. ... Lenders also look at income, credit history, and debt-to-income ratio.

How much should I put down on a car?

When it comes to a down payment on a new car, you should try to cover at least 20% of the purchase price. For a used car, a 10% down payment might do. Part of your decision will depend on where your credit score stands.

Can I buy a house with a 760 credit score?

According to FICO® credit bureau data, the best credit score to buy a house is 760 and higher, which tends to unlock the best mortgage rate. However, to qualify for a home loan, you'll need at least the minimum credit score to buy a house, which ranges from about 500 – 680, depending on the mortgage program.

Is 760 a good credit score in India?

Credit score of 760 and above

It indicates that you have managed your debt successfully in the past and do not have other debts that are large enough to impact your potential home loan repayment. If you have a score in this range, maintain it.

How good is an 850 credit score?

Your 850 FICO® Score is nearly perfect and will be seen as a sign of near-flawless credit management. ... An Exceptional credit score can mean opportunities to refinance older loans at more attractive interest, and excellent odds of approval for premium credit cards, auto loans and mortgages.

Will I get finance with a fair credit score?

If your FICO® Score is good or better, you're unlikely to have trouble getting approved for a car loan. If it's in the fair range, you'll likely qualify as well, though you may have to settle for an offer that carries higher interest charges or fees or requires a relatively high down payment.

Is 782 a good credit score?

A 782 credit score is Very Good, but it can be even better. If you can elevate your score into the Exceptional range (800-850), you could become eligible for the very best lending terms, including the lowest interest rates and fees, and the most enticing credit-card rewards programs.

Is 764 a good credit rating?

Your score falls within the range of scores, from 740 to 799, that is considered Very Good. A 764 FICO® Score is above the average credit score. Consumers in this range may qualify for better interest rates from lenders. 25% of all consumers have FICO® Scores in the Very Good range.

Is 754 a good credit score?

A 754 credit score is Very Good, but it can be even better. If you can elevate your score into the Exceptional range (800-850), you could become eligible for the very best lending terms, including the lowest interest rates and fees, and the most enticing credit-card rewards programs.

How good is 764 cibil score?

Your CIBIL score, calculated based on your credit behavior as reflected in the 'Accounts' and 'Enquiries' section of your CIR, ranges between 300-900. A score above 700 is generally considered good.