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Can I get a car loan with a credit score of 637?
I’ve been passively car shopping for a few weeks, and I’m hoping to finance one soon. I’m working on raising my credit score, but it’s still not where I’d like it to be. Can I still get a good car loan with a 637?
Macy Fouse · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Aren’t credit scores annoying? Don’t panic, though—you’ll definitely be able to get an auto loan with a score of 637.
Since a 637 credit score is categorized as nonprime, your interest rates are likely to fall between 6.32% and 9.77%. When borrowers have lower credit scores, lenders raise their
APR
to cover the risk involved in extending the loan.The loan terms and rates you’re offered depend a lot on where you get your loan, too—be it a dealership,
credit union
, bank, or online lender. It’s a good idea to shop around for pre-approval from a few different lenders to find your best possible option. Similarly, it’s a good idea to shop around for
car insurance
before settling on a policy and price. The Jerry
app makes it quick and simple. Jerry is a licensed insurance broker that will collect quotes from over 50 top-rated 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.
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- Gregory R.
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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.
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