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 provided by
Answered on May 28, 2021
“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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