Can I get a car loan for $25,000 with $3,000 down if my credit score is in the high 400s?

"I need to get a car loan for $25,000. I have $3,000 to put down, and I make about $4,000 a month.

Can I get a car loan for this amount if my credit score is in the high 400s?"

Answer
“With your credit score, you’ll probably only be able to find a loan from predatory lenders. This means that your interest rate will be the highest rate possible allowed in your state, which is usually 20% or more.
The question is why do you need a $25,000 car? Why not buy a used one with your $3,000? Buying a car with cash in hand will save yourself the hassle and loads of money.”
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Eric Schad
Answered on May 28, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
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