Way to go on improving your credit score! You can probably get a car loan
with a 611 credit score, although you may have to shop around a bit more to find a willing lender. With a 611 credit score, you’re in the nonprime range of borrowers. This is better than subprime, but it’s not quite in the prime range where you get the best interest rates. To work with you, lenders might require:
A long-standing relationship
A sizable down payment (20% or more)
Like you would with any type of loan, shopping around can help you find a lender with the best terms and rates. The more time you put in, the better your results will be.
Keep in mind that no matter what lender you choose, they’re going to require you to have full coverage car insurance. That’s when Jerry
comes in handy. Jerry is a licensed insurance broker that will collect the best quotes for you 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.
MORE: What is APR and how is it calculated?