What Credit Score Do I Need to Buy a Car?
There is no credit score minimum for obtaining a car loan. Whether your credit is excellent, fair, poor, or limited, you may still qualify, but your rate, down payment, loan amount, and terms will likely differ based on your credit profile. Credit score is just one piece of the puzzle. Banks and credit unions also weigh factors like income, existing debt, down payment amount, and which vehicle you're trying to finance.
Credit Score Categories
| Credit Score | General Category | What to Expect |
|---|---|---|
| 781-850 | Super Prime | Strongest rates and financing option |
| 661-780 | Prime | Competitive rates and broad vehicle selection |
| 601-660 | Near Prime | Financing may be available at higher rate |
| 501-600 | Subprime | Higher rates or a large down payment may be required |
| 300-500 | Deep Subprime | Approval is challenging, but some options may exist |
How Does Credit Score Affect Getting a Car Loan?
Interest Rate: General rule of thumb is the higher your credit score, the better your chances are of locking in a lower APR financing rate. According to recent Experian data, average auto-loan APRs vary significantly depending on which credit tier a borrower falls into.
Monthly Payment: Besides credit, your down payment may affect your car payment and approval.
Down Payment: For a shopper with limited or no credit, lenders may ask for more money down.
Loan Approval and Amount: This is highly influenced by credit score.
Do Banks Consider Other Factors for Car Loan Approval?
Lenders take several factors into account for approval, including:
- Monthly and annual income
- Employment and job history
- Debit-to-income ratio
- Housing expenses
- Down Payment
- Trade-in Equity
- Previous auto-loan history and if payments were on time
- Vehicle age, mileage, and value
- Requested loan term
- Co-Buyer credit score
Ways to Improve Your Chances of Getting Approved for a Car Loan
- Review credit reports for inaccurate information.
- Make current payments on time.
- Reduce credit-card balances when possible.
- Save for a down payment.
- Gather recent proof of income and residence.
- Choose a vehicle that comfortably fits the budget.
- Consider a qualified co-borrower.
- Compare the APR, term and total loan cost.
What Documents Are Needed for Automotive Financing?
Be prepared for financing by bringing a valid driver’s license, proof of income, proof of residence, proof of insurance, down payment information, trade-in title or payoff, and co-buyer information.
Frequently Asked Credit Score Questions About Credit Scores
Is a 600 credit score good enough for a car loan?
A 600 score does not automatically prevent someone from financing a vehicle. Generally, the lower the credit score the higher APR and more money that is needed for a down payment.
Can I buy a car if I don't have credit?
There are first-time buyer programs available at Speck Hyundai. Having no credit is different than having bad credit. Banks may place greater emphasis on monthly income, employment history, and having a co-buyer.
Does it hurt my credit score when I apply for a car loan?
There is a difference between pre-approval and full credit applications. Shopping for a car loan typically has no lasting impact compared on credit scores.
| Monday | 9:00AM - 7:00PM |
| Tuesday | 9:00AM - 7:00PM |
| Wednesday | 9:00AM - 7:00PM |
| Thursday | 9:00AM - 7:00PM |
| Friday | 9:00AM - 7:00PM |
| Saturday | 9:00AM - 7:00PM |
| Sunday | 10:00AM - 6:00PM |
| Sales and Service will be closed 4th of July (07/04/2026) | |
| Monday | 7:30AM - 5:30PM |
| Tuesday | 7:30AM - 5:30PM |
| Wednesday | 7:30AM - 5:30PM |
| Thursday | 7:30AM - 5:30PM |
| Friday | 7:30AM - 5:30PM |
| Saturday | 9:00AM - 5:00PM |
| Sunday | Closed |
| We will be closed Sunday April 5th for Easter. | |
| Monday | 7:30AM - 5:30PM |
| Tuesday | 7:30AM - 5:30PM |
| Wednesday | 7:30AM - 5:30PM |
| Thursday | 7:30AM - 5:30PM |
| Friday | 7:30AM - 5:30PM |
| Saturday | 9:00AM - 5:00PM |
| Sunday | Closed |
| We will be closed Sunday April 5th for Easter. | |
Speck Hyundai of Tri-Cities
Address
2910 W. Clearwater Ave
Kennewick, WA 99336
Phone
- Sales 509-715-0565
- Service 509-715-0714
- Parts 509-715-0736
| Monday | 9:00AM - 7:00PM |
| Tuesday | 9:00AM - 7:00PM |
| Wednesday | 9:00AM - 7:00PM |
| Thursday | 9:00AM - 7:00PM |
| Friday | 9:00AM - 7:00PM |
| Saturday | 9:00AM - 7:00PM |
| Sunday | 10:00AM - 6:00PM |
| Sales and Service will be closed 4th of July (07/04/2026) | |
| Monday | 7:30AM - 5:30PM |
| Tuesday | 7:30AM - 5:30PM |
| Wednesday | 7:30AM - 5:30PM |
| Thursday | 7:30AM - 5:30PM |
| Friday | 7:30AM - 5:30PM |
| Saturday | 9:00AM - 5:00PM |
| Sunday | Closed |
| We will be closed Sunday April 5th for Easter. | |
| Monday | 7:30AM - 5:30PM |
| Tuesday | 7:30AM - 5:30PM |
| Wednesday | 7:30AM - 5:30PM |
| Thursday | 7:30AM - 5:30PM |
| Friday | 7:30AM - 5:30PM |
| Saturday | 9:00AM - 5:00PM |
| Sunday | Closed |
| We will be closed Sunday April 5th for Easter. | |