Sept. 2, 2022

Can I Get a Car with a 600 Credit Score?

Credit scores can influence everything from buying a house to buying a new car. A credit score is a number that says how likely credit providers are to extend you credit. A low credit score can mean that you are less likely to get certain types of loans. No credit score could mean that you are very unlikely to get a loan at all.

A vehicle is a life-changing purchase for many. However, if there’s a loan standing between you and your new car, you might want to know what your credit score is and whether or not you will be able to get the loan you need.

Here’s what you should know about cars, credit scores, and whether you can get a car with a 600 credit score.

About Your Credit Score

Credit scores are calculated behind the curtain by credit providers. When you make financial decisions, your credit score either goes up or down as a result. Loan applications, active current loans, and the history of your loan repayments are all things that individually affect how high (or low) your credit score goes.

A high number of active loans or missed payments can decrease your credit score. However, having no credit at all can also reduce your credit score. A credit score is a number that you should be aware of and keep in mind at all times. When your credit score goes down too low, you should begin making more responsible financial decisions. For example, always pay loans on time when you can.

When it’s time to apply for a car loan, the first thing that a potential lender will do is check your credit score. A good credit score or a bad credit score will influence just how likely some lenders will be to grant this loan to you (or not).

Credit Score: Ups & Downs

If you have a 600 credit score, there’s no need to worry about your entire financial future just yet. A 600 credit score number isn’t as bad as you might imagine (or debt rescue companies would have you think!). A 600 credit score is still above average, and it means that you have a somewhat responsible payment history/financial past.

Having a 600 credit score means that you are a financially responsible adult, but have taken a couple of financial turns that have brought your credit score down a few notches. It’s not impossible or unlikely to get an auto loan if you have a 600 credit score.

Can I Get a Car with a 600 Credit Score?

Yes, although some of the most popular auto lenders are just less likely to provide credit than others. If you have a 600 credit score, some of the banks and lenders you approach might decide that you (or the vehicle) isn’t worth the risk associated with your credit history.

The good news is that there are alternative ways of getting a loan, and there are certainly other loan providers.

1. The Right Provider

If you can’t get a loan through one bank or company, find another company that might be willing to grant credit at the same terms. Companies have different criteria of what credit score they would consider moderate to low-risk. These companies are more likely to give you a loan when you need it the most. Always try several companies if you are looking out for a vehicle loan.

2. Alternate Lending 

Alternate lending can provide relief if you would like to get an auto loan but won’t get approval through normal means. Obtaining the money needed to finance a vehicle doesn’t have to come from pure auto finance plans. In fact, it can also come from other avenues such as personal loans.

If you are more likely to get one type of loan than another, find an alternate lending plan that is more likely to fit your credit score.

3. Payday Loans

Payday loans are sometimes available to those with a low credit score. These types of loans often come with a higher risk. A payday loan has a very short repayment term. However, you are also more likely to get a loan this way.  There are hundreds of reputable lenders who offer payday loans.

If you cannot source vehicle financing through regular means, try a payday loan to fill in the gap. Make sure you will be able to pay for the loan in the future, or else you will only cause your credit score to decline further.

Drive Fast USA in Omaha, Lincoln, & Kansas City - Buy Here Pay Here - We offer bad-credit Car loans

If you’re located near Omaha, Lincoln, and Kansas City and have a weak or nonexistent credit score, you are a likely candidate for no credit car loans. However, lenders will still have minimum eligibility qualifications for bad-credit auto loans.

Are you looking to buy a car? Our stress-free car shopping experience will have you driving home amazed at how fast and easy the process was. Just because we’re a “Buy Here Pay Here” car lot doesn’t mean we don’t have a great selection of pre-owned vehicles to choose from. Our inventory is continuously being updated. That means if we don’t have the perfect vehicle for you, be sure to check back next week or even the next day.

In any case, we’re confident that we’ll have something that will fit your tastes, needs, and budget. We encourage you to browse our inventory online in Omaha, Lincoln, or Kansas City to narrow down your preferences to make things even faster when you visit our auto dealership.

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