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Is a 649 credit score good enough for a car loan?
I’ve heard all kinds of rumors about credit scores but I want to get to the bottom of this mystery. How good of a credit score do you need for a car loan–is 649 good enough?
Drew Waterstreet · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
You’re so close! Even though you could qualify for a car loan with a credit score of 649, you may want to wait. Lenders typically offer the best loan terms to car buyers who have a credit score of 660 or more.
It may be a financially responsible move to try and raise your credit score a little bit before accepting a car loan agreement. Here are some simple strategies to do that:
- Pay down existing debt or outstanding bills
- Don’t apply for any new credit cards
- Pay off your credit card but keep the account open
Once you’ve got your score up to 660, the lender should be ready to offer you a loan with a low interest rate and fair terms.
Next, you’re going to need
car insurance
. No worries, Jerry
can help! Jerry is your ultra-talented car insurance broker for life. It takes less than a minute to sign up and you’ll be presented with competitive rates from more than 50 top providers. Don’t lose coverage, find savings with Jerry. View full answer
- Gregory R.
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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.
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