Can I get a car loan with my credit score?
I am applying for a car loan through a used car lot. I have a credit score of 519 and i realize that is not to good. I have some hospital bills that I am paying monthly payment every month. I am just curious if I can get a decent car loan without having that high of an interest rate. I really cant afford more than $150/month for a far payment. How realistic is it for me to get a car?
- 4 years agoFavorite Answer
I think it is possible for you to get a car loan. It would be best if you could join a credit union in your area. They should be able to help you.
- Steve DLv 74 years ago
The only place you are going to get a car with a car loan is at a buy here pay here dealership. Expect an interest rate in the area of 14% or more (up to 24%). This is not going to leave you much budget for a car - even at 8% for 5 years, you are looking at less than an $8,000 car - if you can't get an 8% loan, even less.