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Is 650 a good credit score to get a car loan?
I have a steady job now and am thinking of getting a new car. Will I qualify for a car loan with a credit score of 650?
Brittni Brinn · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Congrats on having a steady job! A credit score of 650 may or may not be good enough to get a car loan.
Most lenders offer car loans to drivers with credit scores of 660 or higher—but that doesn’t mean you’re out of luck! Some lenders finance drivers with lower credit scores, but you might need a cosigner or have to meet additional conditions.
- Your bank: If you have an account with a bank, it’s more likely they’ll offer you a good car loan.
- A credit union: These are an excellent place to try to get financing on older vehicles. They also tend to offer very competitive interest rates on new cars.
- The dealership: Some lenders will have loans available if you fulfill other standards—for example, a good driver standard.
Although you may have to shop around to find the best loan, you’ll be happy you did when you end up paying less for your new ride. You can also save money on your new car by shopping around for better-priced car insurance.
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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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