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What Car Loan Can I Get With a 650 Credit Score?

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Sam Rakestraw

Answered On Dec 19, 2022

· Answered On Dec 19, 2022

650 is not a bad credit score, but it’s not better than average. Still, it’s enough to be able to get a car loan. However, you may find some things as the interest rates, to be disagreeable. The average interest rate for car lenders with a credit score of 650 is nearly 12%. 

If you aren’t on board with the interest rate that comes with your car loan, you can do any of the following to help reduce it:

  • Improve your credit score by making sure it’s accurate and making your payments on time in order to increase it. It also helps to not close out any payments or loans as that can lower your credit score. 
  • Making a larger downpayment upfront when you first get the car –around 20% of the total sticker price should do just fine. 
  • Add a reliable cosigner with a better credit score than you. 

When it comes to car insurance, your credit score also plays an important role in determining how much you will pay for car insurance. Insurance Navy is known to match clients with above-average credit scores with cheap car insurance rates as they work to get it in better standing. We understand that getting better credit is a process. Start today with your free car insurance quotes regardless of your credit score.

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