PriceProtect™
DriveShield™
GarageGuard™
Services
Insurance
Car Insurance
Compare Car Insurance with Jerry
Jerry’s Expert Advice
Car Insurance Estimates
Home & Renters Insurance
Renters Insurance
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
Can I get a car loan with a 538 credit score?
I recently checked my credit score and found that it sits at 538. I know this isn’t a great credit score, but I really need a car to get to work. Can I get a new or used car loan with a credit score of 538?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
You can get a
car loan
with a 538 credit score, but finding a willing lender or a low interest rate will prove difficult. With a 538 credit score, you’re in the subprime range of borrowers, meaning you’re high-risk. As a result, you’ll need to work with a lender that specializes in bad credit loans.Alternatively, you can try a buy here pay here dealership. Oftentimes, these dealerships won’t even check your credit. But even if they do, they’re likely to approve you. Be aware that these dealerships charge exorbitant interest rates, sometimes in the 15% to 25% range. This isn’t ideal, but if you can pay the loan down early and refinance in about a year, it’s an option.
Another choice is to
get a cosigner
. If you can find a family member or friend with good credit to cosign for the loan, you’ll increase your chances for approval, and you might even get a better interest rate.Whatever method you choose to get a car loan, your lender will require full coverage car insurance. If you’re not sure where to shop for car insurance, give the
Jerry
app a try.Jerry is a licensed insurance broker that will collect quotes from the nation’s best insurers in minutes. After you find a great rate, Jerry can help you buy new insurance and cancel your old policy. Users save an average of $887 per year.
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