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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?"
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“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.”
View full answer
- Gregory R.
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