You need a loan to buy a car, but with fair credit — generally a credit score between 630 and 689 — you worry you won’t qualify for a good interest rate.
However, by following these steps, you’ll not only get the best rate available to you, but also be in a stronger position when you go car shopping.
Can I get a loan with a credit score of 630?
There’s no way to sugarcoat it: It’s harder for borrowers with fair or average credit (630 to 689 FICO score) to qualify for a personal loan than it is for borrowers with good or excellent credit. But it’s still possible, and some lenders will consider more than your credit score when determining your creditworthiness.
What can a credit score of 630 get you?
630 Credit Score. Rather, a 630 credit score is actually considered “bad,” according to the standard 300 to 850 credit-score scale. Such a score will make it difficult to get approved for a decent loan or line of credit and could even prevent you from renting an apartment or landing certain jobs.
Photo in the article by “Flickr”