Can I get a car loan as 20-year-old with a 540 credit score?

My credit score is currently at 540. However, I've never missed any payments. I think the problem lies in the fact that one of my credit cards is maxed out. Can I still get a car loan with this score?

Apr 27, 2021
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Eric Schad
Answered at Apr 27, 2021
“With a score that low, you probably won’t get approved for a car loan unless you make a substantial down payment, probably 50% or more.
So instead of getting a car loan, the best advice is to pay off your credit card. Not only will this absolve you of high-interest debt, but it will also raise your credit score in the process.
Because you’re only 20, you also don’t have a lot of credit history. As such, it will take some time to build it up. In the meantime, consider purchasing a car with cash until you have the credit to get a car loan.”
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