Can I get a car loan with a charge off on my record?

I got a charge off last year. I need a new car and I’m not sure what to do. Will I be able to get a car loan with a charge off?

Will Baldwin · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
I’m sorry to hear that you went through that! The good news is you can get a car loan with a charge off on your record.
Despite a charge off staying on your credit report for seven years, it won’t block you completely from getting loans. That said, you are considered a higher-risk borrower, meaning some lenders won’t approve you for financing.
Even so, there are several things you can do to improve your chances of getting a car loan with a charge off:
  • Find a
  • Improve your credit score
  • Save money for a large downpayment
  • Find a used car
  • Shop around with various lenders
After you find a lender willing to finance a new car for you, you’ll also need car insurance. If you’re looking for help lowering your expenses, consider using the
Once you download Jerry, answer a handful of questions that will take you roughly 45 seconds to complete and you’ll immediately get car insurance quotes for coverage similar to your current plan. Jerry customers save an average of $887 a year.
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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.

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