Can I get a car loan with bad credit but a large down payment?

I would like to get a car for about 12,000 I have a down payment or 6 thousand so I have half, could I get financed I have a credit score if like 570 or something also what do you think my interest rate would be and my payment every month?

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  • 7 years ago
    Best Answer

    Well your credit score i.e 570 is not good so you might end up getting higher rate of interest. Also different lenders with have different calculation considering your down payment.

    Its more practical to contact lenders check out your exact loan conditions that if, interest rate, loan terms, etc.

  • Anonymous
    7 years ago

    Hi,

    570 is not a very bad credit score and you can certainly expect approval on your auto loan. Also, 50% down payment is phenomenal. Just make sure that you can manage it without having any negative effect on your monthly payments.

    It is very difficult to let you know your interest rates because every lender has different criteria for judging your bad credit auto loan application form. A good income and stable job can definitely reduce your interest rates.

    Here are a list of few companies that will help you in securing bad credit auto loans :

    1) https://www.ezautofinance.net/

    2)autocreditexpress.com

    3) roadloans.com

  • Anonymous
    7 years ago

    You can if you go to a car dealership that mainly sells that kind of car, so a Toyota dealership and you are looking for a Toyota. You will have high monthly payments around $400-500.

  • 7 years ago

    Yeah they will finance you but for about 24.99% interest. Just use the 6000 and you can get a decent used car for that plus having that much cash is a good bargaining tool

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  • 7 years ago

    they're is always someone out there to take your money.

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