Is 665 considered a good credit score for a car loan?

Can I take out a car loan with a 665 credit score? I’ve never owned a car before, but I have my driver’s license. I got a new job and I need a car, so this is the first time I will be taking out a car loan.

Answer
Yes, 665 is considered a good credit score for a car loan! When you have a higher credit score, you increase your chances of getting approved with lower interest rates. Most lenders recommend a credit score above 661 to get the best rates.
Since your credit score falls under the prime range, you should have no issues. To ensure you get the best loan offer, shop around and collect quotes from at least three different lenders.
If you would like to increase your credit score to qualify for a better interest rate, try these tips:
  • Don’t miss any payments.
  • Build a credit file by using major credit bureaus to open new accounts.
  • Limit how many new accounts you open.
  • Keep your credit card balance low.
Before you shop around for your new vehicle, remember that you will need to have auto insurance to drive off the lot. If you’d rather leave the hard work of gathering quotes to someone else, try Jerry.
The Jerry app can collect quotes from 50+ top insurance companies, like Travelers and Nationwide, in seconds! They even help cancel your old policy once you’ve made your pick.
Phoebe Mah
Answered on Dec 06, 2021
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