Will I still be able to get a car loan if I have a credit score of 568? I’m not really sure what’s a good credit score versus what’s a bad credit score, so I don’t know what to expect.
Reviewed by Shannon Martin, Licensed Insurance Agent.
Unfortunately, 568 is considered a very poor credit score. To get your credit score into the fair range, you’ll need to raise it to 580. If you want a good score, you’ll need to raise it to at least 670.
with a low credit score! Here are a couple of tips that can help:
It’s a good idea to work with a lender who specializes in low credit borrowing. Credit unions are great for low credit car loans because they tend to offer lower insurance rates.
Try to improve your score before applying for the loan by paying off any outstanding charges on other loans and making any additional payments on time.
If the monthly payments look a little daunting, opt for a longer repayment period to ensure that you’ll make any future payments on time.
Before you apply for a loan, you’ll need to apply for car insurance. The
app makes it quick and easy to find the best rates available on the coverage you need—no long forms or phone calls necessary. Just download the app and answer some quick questions to see quotes customized for you.
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