Is 627 a good credit score for getting a car loan?
I haven’t owned a car in almost ten years now, thanks to my city having excellent public transportation, but I’m moving to the suburbs and need to buy a car. Is 627 a good credit score for getting a car loan?
Jack Walsh · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
That sounds like an exciting move! Living in a city with reliable public transportation makes life much easier and saves you the cost of owning a vehicle, but it makes sense to own a car if you live in the suburbs.
car loanlenders prefer applicants with a credit score of 661 or higher, so 627 isn’t ideal, but you should still be able to get a car loan.
Having a nonprime credit score may exclude you from getting a loan through large national banks or other standard lenders. Fortunately, some lenders specialize in loans for those with lower credit scores. To find a lender who can work with you, shop around and compare offers from multiple lenders to find the best rate.
You’ll likely have an above-average interest rate, but finding a
cosignercould make you eligible for a loan through a standard lender. Increasing the down payment could also help you lower the interest rate.
When applying for loans and certainly before driving home, you’ll need a
car insurancepolicy that has
Similarly to finding the best rate on your car loan, if you want to ensure you aren’t overpaying for your car insurance, you should compare quotes from multiple insurance companies.
If you’d rather leave the hard work of gathering quotes to someone else, use
Jerry. The Jerry app can collect quotes from 50+ top insurance companies, like Travelers, Nationwide, and Progressive, in seconds, and if you ever have any questions, agents are just a text away!
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.
Browse More Content
Car Repair Resources
Insurance in Your State
What Others Are Asking
What credit score will get me a car loan?
I’m in the market for a new car, but I don’t have much credit history because I’m a college student, and my credit score isn’t that great. What credit score will get me a car loan?
How do you sell a car with a loan?
I own two cars, an old beater that I love but never had the heart to sell, and a financed sports car. However, I’ve always been an avid cyclist, and it’s now to the point where I use a car maybe once a month. I feel like I’m just wasting money on the financed vehicle and want to sell it, but how do you sell a car with a loan?
Can I get a car loan with a 680 credit score?
I bought my first car the summer before going to college and have driven it every day for the last eight years. With close to 300,000 miles, it finally reached the point where it’s no longer worth paying for repairs. I want to buy a new car, but can I get a car loan with a 680 credit score?
Read Advice From Car Experts At Jerry
2019 Kia Forte Gas Tank Size
No matter the trim level, all 2019 Kia Forte gas tanks can hold 14 gallons of gas.
Colorado Motorcycle Insurance: Costs, Laws, and Quotes
Colorado motorcyclists need to have a minimum amount of insurance before hitting the road. Here’s what you should know.
Browse By Topics
Easiest way to compare and buy car insurance
Find insurance savings — it's 100% free
No long forms
No spam or unwanted phone calls
Quotes from top insurance companies