Is a 630 credit score good enough for a car loan?

My old car just died on me and I need to buy a new one. The problem is that I don’t have the best credit score. Can you get a car loan with a credit score of 630?

Holden Easterbrook · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
You’re right that a 630 credit score is lower than the ideal score for a
car loan
, but it should be good enough qualify, so long as you:
  • Prepare for high interest rates: Lower credit means higher interest rates, so check to see how much of an additional monthly cost you can afford. 
  • Get a
    : Having someone to vouch for your ability to pay off your loan (and volunteer to be on the hook if you don’t) will make a lender more willing to offer you one. 
  • Find a loan specialist: There are loan providers that specialize in bad credit and are more willing to work with those with scores like yours
  • Try to make a large down payment: A larger down payment will mean lower monthly payments, so start saving as soon as you can.
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