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 loan
lenders 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
could 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 insurance
policy 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
. 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!
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