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
Will I be able to get an auto loan as an 18-year-old with a 650 credit score?
I need a car to get to work and I found one I like for $20,000. I need a loan to buy it, but I'm worried about approval. Can I get a $20,000 car loan as an 18-year-old with a 650 credit score?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“If you’re bringing in some income, maybe $1,500 to $2,000 a week, you can probably find a lender to approve you.
Note that the interest rate is going to be outrageous, and you may end up paying a huge amount in interest over the life of the loan.
To compound matters, you’re also going to need full-coverage insurance, so don’t forget about this. At your age, you can realistically expect to pay $3,000 to $4,000 a year for
auto insurance
, which is something many young buyers forget about.So see what you can get approved for and add in the cost of insurance. You might decide that a $2,000 car will be a better option than a $20,000 one.”
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
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
