Many car dealers advertise that it's possible to obtain a loan with no credit.
Do notice that the lower your credit score the higher your down-payment may have to be.
In addition, you might be charged a higher rate of interest.
Remember to read the loan contract carefully.
Wiki User
∙ 12y agoYes, this is a fair credit score.
When one is trying to get a car loan, the importance of the credit score is mostly important when calculating the interest of the loan. A better credit score means a lower interest rate.
Nothing is published on what credit score you must have to obtain a car loan. There is information about having a high score means getting a better rate on your car loan.
you can get approved with any credit score. they will just get you with the interest.
no
660
No, you can't get a loan without the bank checking your credit score. But just because you have a low credit score, this doesn't necessarily mean you can't get a car loan. You may just get a loan with a higher interest rate.
need a used car loan my credit score is 570 i need low monthly payments of nomore than $250.a mo i have $500. down payment will anyone finance me
Unfortunately (for borrowers) some car dealerships will give a loan to anyone regardless of credit score. The problem you'll face is that you'll get unfavorable loan terms - specifically APR, or length of the loan. There's no specific FICO score that enables you to get a car loan, but you will pay a lot more if your credit score is bad. Before applying for a substantial loan - if you can - clean up your credit history for 6-12 months to help qualify you to get better contract terms.
To get credit to build a credit score, you must take a loan out on something such as a car or a house and then make payments. The more you are on time, the better your score will be.
This is a very poor credit score. You can apply but it is unlikely you will get a loan without a cosigner. If you are able to get a loan without a cosigner your interest rate will be very high as compare to someone with a good credit score of over 700.
On a joint car loan, no one is increasing their credit score. This is usually the case when one signer is weak to get approved and require a co-signer. Co-signer is financially responsible for the car loan if signer default on the loan. For more information you can try this web site at http://www.autocreditfinancial.ca