Services
Insurance
Loans
Repairs
Advice
About

Can I get a decent APR on a car loan with a 600 credit score?

I want to purchase a new car, but I have a 600 credit score. Can I still get a decent APR with this credit score?

avatar
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“With a credit score that low, you’re not going to find any low rates for a car loan. The cutoff for a decent rate is 670.
In this instance, you’re looking at a rate that’s going to be somewhat similar to a credit card—probably between 12% and 20%.
That’s a lot of cash going to interest. Unless you need the car immediately, you might want to try raising your score by paying off some debt until you reach that 670 level.
And if you are going to finance a car, don’t forget that you’ll need full-coverage
car insurance
. Add that to your budget.
Also, you might want to consider getting a used car or paying cash instead of financing a new car.”
View full answer 
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

Easiest way to compare and buy car insurance

√
No long forms
√
No spam or unwanted phone calls
√
Quotes from top insurance companies
Find insurance savings