Will I get approved for a Honda Ridgeline loan if my credit score is 640?
"I have a credit score of 640, and I'm shopping around for a car loan to buy a Honda Ridgeline.
Will I get approved for this loan?"
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Answered on Jun 18, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
“Credit score is only one criterion needed for car loan approval. Prospective lenders also look over your income, existing debt, and credit history.
If everything meets the lender’s standards, you might get accepted with a 640 credit score. Note: Your interest rate will probably be pretty high. If possible, continue to build your credit until you reach 700, as this can drastically lower your interest rate.”
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