Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Auto Loans
Profile Image

Question By
bboutte12

0 Contributions
0 People Helped
Could I buy a used car with a credit score of 674?
I'm a 19 year old college student with a credit score of 674, I'm looking to buy a used car, an 09 or up. Will I be able to get financed and get a decent apr?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-3 of 3Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
3 Contributions
16 People Helped
Most Helpful Response

Car Shopping-YES!

Helpful to 7 out of 8 people

When you are in the market for an auto loan, the best thing to do is work directly with your bank or credit union. Your credit score is just one indicator of your overall loan. In addition, the bank looks at your debt to income ratio, your past 12-24 months of credit history, and any prior BK or Repossessions. You also need to have a steady income to show that you can repay your obligation.

If you have direct financing instead of obtaining the loan at the dealership, you are more likely to get approved at a lower interest rate. For example, I worked for a large bank that writes auto loans and if you had a 674 credit score, along with a clean report (no late payments in the past 12-24 months and your debt to income ratio wasn’t too high) you would have been approved for a loan with an APR of roughly 4-9.99%.

Good luck!

4 Contributions
1 Person Helped

Helpful to 1 out of 1 people

Tix brings up a lot of great points that really are taken into consideration along with your score.  I was able to get approved for an auto loan with a score slightly less than yours.  Good luck!

1 Contribution
0 People Helped

Think so

Helpful to 0 out of 1 people

My score is only 630 and going for a 2006 pt crusier and they aid that they can get me in to it and I am thinking that I well get an APR of about 12% but I don't mind the APR my self.

Results 1-3 of 3Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.