Can I get a car loan for a Toyota 4Runner with a 750 credit score and $5,500 down?

"I want to purchase a Toyota 4Runner for $12,000. I have $5,500 for a down payment and a credit score of 750. I currently make about $42,000 a year.

Will I get approved for a car loan?"

“With a good credit score, steady income, and a 45% down payment, you’re a shoe-in for a car loan.
But don’t forget that you’ll also have other costs, not just the car note. Car insurance with full coverage is mandatory on loans, so you might be looking at a few hundred a month extra for a premium.
If you can afford the car without stretching yourself financially, you shouldn’t have any problems getting the loan.”
Eric Schad
Answered on Jun 07, 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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