PriceProtect™
DriveShield™
GarageGuard™
Services
Insurance
Car Insurance
Compare Car Insurance with Jerry
Jerry’s Expert Advice
Car Insurance Estimates
Home & Renters Insurance
Renters Insurance
Loans
Car Loan
Compare Car Loans with Jerry
Jerry's Expert Advice
Car Loan Guides
Repairs
Car Repair Estimates
Repair Estimates for Popular Services
Advice
Read Car Content
Browse Jerry Car Advice
Check Out Expert Car QnA
Learn About How We Create Content
Jerry Data & Research
Can I get a car loan with a 545 credit score?
I received an email from Credit Karma that my credit score increased. It was at 528, but now it’s at 545. With this increase in my credit score, I want to get a car loan. But can I get car loan approval with this score?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
You might be approved for a car loan with a 545 credit score. However, you’re not going to find a ton of lenders willing to work with you, as this credit score is in the subprime range. Even if you can find a lender, the lender’s interest rate for your
car loan
is going to be sky-high.If you can’t wait to get a car, start by cleaning up your credit. Pay off any delinquencies and high-interest debt. Then, shop around for preapproval within a 14-day period. Within this period, you will only get one hard inquiry on your credit report, which will only make a minor impact on your credit score.
If you still can’t find approval, try to get a cosigner. Ask your friends or close family members to cosign for your loan, and you may get a better chance for approval and even a lower interest rate.
If you find a lender willing to work with you, the lender will almost certainly require full coverage car insurance. That’s when
Jerry
can help.Jerry is a licensed insurance broker that will search for quotes from over 50 top-rated insurers in minutes. After you find a great rate, Jerry can help you buy new insurance and cancel your old policy. Users save an average of $887 per year.
View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
Join 4M+ members in lowering their car insurance
You Might Also Be Interested
Read Advice From Car Experts At Jerry
What Others Are Asking
Browse More Content
Insurance in Your State
Easiest way to compare and buy car insurance
No long forms
No spam or unwanted phone calls
Quotes from top insurance companies
