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Posted in Auto Loans
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memetn

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Can i get approved for auto loan with credit score of 503

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Not likely.

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Most lenders want at least a 620 score. 

a 503 score means that you either have a very thin file, (not much credit extended already) or you have serious issues being reported. 

If its the former, No credit, then you need to start building your credit. You may need to start with a secured card or student credit card. 

if its the latter, then you need to clean up your credit report and get the derogitory remarks and accounts taken care of. 

Read up on the articles and blogs here on CK to get more info on your particlular situation. 

Good luck 

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Helpful to 1 out of 1 people

Not likely, especially not at a reaso[nable interest rate..  Read the articles on this site so you can learn about credit, and how to build your scsore.  That is what Credit Karma is for.and this information sure helped me!

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