Car dealers primarily focus on your FICO Auto Score, a specialized version of your credit report tailored for vehicle loans. While they will see your classic FICO Score (like FICO 8), the Auto Score carries more weight because it's specifically designed to predict your likelihood of repaying a car loan. The most widely used versions are FICO Auto Score 8, 9, and 10. Dealers also meticulously examine the full credit report from one of the three major bureaus (Equifax, Experian, or TransUnion) that underpins this score, paying close attention to your payment history and credit utilization.
The minimum credit score needed varies, but generally, a score of 661 or above is considered prime territory, unlocking the best interest rates. Here’s a breakdown of what dealers see in different score ranges:
| Credit Score Range (FICO Auto Score) | Tier Classification | Likely Loan Terms & Dealer Perspective |
|---|
| 781 - 850 | Super Prime | Top-tier borrower. Qualifies for the lowest possible annual percentage rates (APRs), often 0% for special manufacturer offers. |
| 661 - 780 | Prime | Strong candidate. Will receive very competitive, favorable interest rates. |
| 601 - 660 | Non-Prime | Subprime borrower. Will likely get approved but with significantly higher interest rates. May require a larger down payment. |
| 501 - 600 | Subprime | High-risk borrower. Approval is not guaranteed. If approved, will have high APRs and strict loan terms. |
| 300 - 500 | Deep Subprime | Extremely difficult to secure financing without a substantial down payment or a qualified co-signer. |
Beyond the score number, dealers and lenders analyze your DTI (Debt-to-Income Ratio) to ensure your total monthly debts (including the potential car payment) are manageable relative to your income. They also look for recent auto loan inquiries—multiple hard inquiries for a car loan within a short span (typically 14-45 days) are usually counted as a single inquiry, minimizing the impact on your score as you shop around.
