A 519 credit score isn’t ideal for a car loan
, but lenders might approve your application in some cases. The two most common ways that you can get a car loan with your subprime credit score are by: Making a large down payment
If you can make the down payment requested by the lender, they’re likely to approve your car loan.
Alternatively, ask a friend or family member to cosign for the loan. This person will need to have good to great credit and a willingness and trust to sign on your behalf. Keep in mind that if you fail to pay, their credit score will fall as a result.
If you don’t have the cash for a large down payment or you can’t find a cosigner, you can work with a lender who specializes in bad credit loans. While they will approve you, your interest rate might be 15% or higher. Only take a loan with one of these companies as a last resort.
Regardless of which method you choose to get a car loan with a 519 credit score, the lender will require full coverage car insurance. Full coverage can get expensive, especially if you don’t know where to look. But Jerry
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