How high of a credit score do you generally have to have to finance a new auto loan alone?

I'm 20 and I'm just starting out with credit but man...I so want the '08 Mitsubishi Lancer...and I know I can afford it...

How high of a credit score do you generally have to have to finance a new auto loan alone?

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 requested.

3. Age of vehicle.

4. Miles on vehicle.

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.

Seeing as you are looking at a new car most likely 1,2,3,4%26amp;5 will not be a issue. If the rest meet the lenders guidelines you should be fine.

How high of a credit score do you generally have to have to finance a new auto loan alone?

550+ I believe

How high of a credit score do you generally have to have to finance a new auto loan alone?

you don't NEED an 08 anything...get something used and save thousands.

How high of a credit score do you generally have to have to finance a new auto loan alone?

You won't get a loan for that kind of money. You could get a nice car for 20,000 if you have a few years credit and a score of over 650. Just buy the car you like after it's first lease cycle...it'll be 3 years old...still like new.

How high of a credit score do you generally have to have to finance a new auto loan alone?

800 or better...(truly) even Dell computers won't sell to you if your score is under 800. (financing through Dell)

How high of a credit score do you generally have to have to finance a new auto loan alone?

You can probably get financed, but the interest rate will be really High. Buy something more reasonable to start with.

How high of a credit score do you generally have to have to finance a new auto loan alone?

that depends on ur bank.

How high of a credit score do you generally have to have to finance a new auto loan alone?

well,i just bought a Ford F150 xlt lariat Friday with a score of 650,anything above would greatly help,below that,well,could be difficult

How high of a credit score do you generally have to have to finance a new auto loan alone?

Remember it isn't just the car payment. You have insurance -- which could be pretty hefty for a 20 year old. Plus registration and maintenance ....

How much of your pay each month would have to go to that vehicle? For the next 5 or 6 years?

How high of a credit score do you generally have to have to finance a new auto loan alone?

Just make sure that your not biting off more than you can chew and that this is a %26quot;smart%26quot; financial decision.

Since you do not have a credit history established, credit is going to cost you, meaning that you are going to pay a higher interest rate because the creditor is taking a higher risk.

I just bought a car, and I had a great experience with HSBC Auto Loans and Capital One. I also suggest that you start a Capital One Credit Card or a HSBC Credit Card to start building your credit history. They offer online bill pay and account management for your loan and credit card.

Good Luck!