PriceProtect™
DriveShield™
GarageGuard™
Services
Insurance
Car Insurance
Compare Car Insurance with Jerry
Jerry’s Expert Advice
Car Insurance Estimates
Home & Renters Insurance
Renters Insurance
Loans
Car Loan
Compare Car Loans with Jerry
Jerry's Expert Advice
Car Loan Guides
Repairs
Car Repair Estimates
Repair Estimates for Popular Services
Advice
Read Car Content
Browse Jerry Car Advice
Check Out Expert Car QnA
Learn About How We Create Content
Jerry Data & Research
What's the single most important aspect of getting a car loan approval?
I want to get a car loan, but I'm not sure how to make my application more attractive. What's the most important aspect of car loan approval?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Although several factors help lenders determine whether or not your
car loan
will be approved, perhaps the most defining factor is your credit score. Credit scores also play the biggest role in what interest rate you might receive. For example, a credit score of 600 might qualify you for an interest rate of 10%, while a credit score of 800 might get you a 4% interest rate.
As a result, you should check your credit score regularly to see if you can pay down debt or eliminate delinquent accounts. Other factors that lenders also consider include:
If you meet or exceed most or all of these aspects, you’ll likely be approved for a car loan, but always shop around to get the best rate possible.
If you get approval, make sure to budget not only for your monthly payment, but also gas, maintenance, and car insurance. To get the best deals on car insurance, hop onto the number-one-rated car insurance app,
Jerry
. Jerry compares personalized rates from more than 50 top providers and delivers the best deals to your phone in minutes for free. The average Jerry driver saves $879 a year on car insurance!View full answer
- Gregory R.
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.
Join 4M+ members in lowering their car insurance
You Might Also Be Interested
.webp&w=384&q=75)
Read Advice From Car Experts At Jerry
What Others Are Asking
Browse More Content
Insurance in Your State
Easiest way to compare and buy car insurance
No long forms
No spam or unwanted phone calls
Quotes from top insurance companies
