Can my wife and I get a car loan if I have a credit score of 550 and hers is 470?

"My wife and I want a car loan, but we don't have great credit. I usually pay cash for vehicles, but we want a car that's reliable.

Can we get a car loan if our scores are in the 400s and 500s?"

Answer provided by
Eric Schad
Answered on Jun 03, 2021
“You might be able to find a loan, but your interest rate is going to be absolutely astronomical.
The best idea is to avoid a car loan. Instead, take your money, buy a car with cash, and use any extra funds to start fixing your credit. Don’t go further into debt if you don’t have to.”

Did this answer help you?

Ask us a question by email and we will respond within a few days.

Have a different question?

You can meet us at our office and discuss the details of your question.

Easiest way to compare and buy car insurance

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