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This post explains how your credit score affects the pricing of your car. 1) we consider the downpayment you will most likely be required to pay based on your credit score. 2) we consider the interest rate you will pay and what effect it has on your monthly payment.

Down Payment 

Because almost everyone finances a new car, your credit score can limit the type of car you can get. With a large enough down payment, almost anyone can get financed for a new car. Below is a guide that will show you what kind of down payment is required to get financed for your dream car.

• Below a 550 – you are going to have a hard time getting financed for a brand new car without a substantial down payment (50% or more).  However, there are websites that will help you finance a used car such as, (www.autofinanceamerica.com).  You may have luck financing a car with less of a down payment if you have a decent car payment history (you made your previous car payments on time). Since all financing companies are different, you have to talk and work with them when your credit score is this low.
  
• Credit score between 550 and 650 – you should not have a problem financing a new car if your recent credit history (last six months) is clean. A modest down payment may be required to show the lending institution you are serious about your car purchase. You will probably need to give the dealer a down payment of around 10% to 20% of the car purchase.
  
• Between 650 and 700 – You will have no problem getting financed (assuming you have no delinquent marks in the past six months). You can most likely get a new car with a modest $500 down for almost any car.
  
• People with credit scores above 700 will have no problem getting a new car, and may even qualify for 0% financing with little or nothing down. It really depends on the dealer and financing company they use. Not all dealers or financing companies offer 0% financing.

Interest Rate