Will a 710 Credit Score Get Me an Auto Loan with a low interest rate?
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Q: I need to put in an application for an auto loan this week and I only have a credit score of 710. Will that be high enough to obtain a car loan with low interest?
A: It’s certainly possible to successfully apply for an auto loan with a credit score of 710 and get a low interest rate. Think carefully about this finance data which comes directly from Experian:
If you’ve a credit score near to 710, you’re going to have the best prospect of being eligible for that loan if you submit a request for vehicle loans online. Doing so makes it easy to do a comparison of prices from a huge assortment of providers. If you are not sure how to start, check out our services list.
Exactly the same solution applies for auto loans for people with a credit score of 711, 712, 713, 714, 715, 716, 717, 718 and 719.
How you can improve your interest rate and credit rating
Although you may make a successful request for an auto loan or personal loan with a 710 credit score, it’s possible that you may receive a slightly more affordable interest rate if you pay a larger deposit on the car. You might also have a bash at elevating your own FICO score.
Listed below are some tips for perhaps maximizing your credit score when you need to apply for an auto / car loan:
- Credit cards, reduce your credit amount to less than 30%.
- Sign up to Experian Boost to get your telephone and utility payments to count towards your credit score.
- Certain loan providers are prepared to excuse one-time slip-ups and wipe them from your credit history. Find out if this can be applied in your case.
- Get on top of as many bills and outstanding debts as possible.
- Obtain free credit reports, examine them for errors and contest any you come across.