r/CRedit • u/Comfortable-Side9583 • Mar 30 '25
Car Loan Can I get a 25k car loan with 630 credit
Where can I get one should I try a credit union or where there any places you got approved for this kind of loan with my credit rating or lower?
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u/bigbad999gdk Mar 30 '25
Navy Federal
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u/Ok-Lake7859 Mar 30 '25
Isn’t that only for veterans?
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u/Plenty_Advance7513 Mar 30 '25
If someone, anyone is a member that you know you can use their member number to join if you're "related" or in the same household
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u/Strudelwagen Mar 30 '25
Navy Federal is for active duty mil, veterans, and their immediate family members such as parents, children, and spouses.
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u/Ok-Lake7859 Mar 30 '25
Why mention it if only a certain group of people can apply with them?
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u/MiserableWinner3899 Mar 31 '25
That’s a lie bro you can literally get an access number and create one that way
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u/Gcngo88 Mar 30 '25
Because it’s sarcasm 🤣
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u/2021Accounting Mar 31 '25
If you have a family member that’s current military or a veteran you can get an account. That’s how I got my checking, savings and credit card.
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u/arkham36 Mar 31 '25
I sold a car to a guy for $3k, he paid with a bank check from Navy Fed and my bank told me I have to go to a Navy Fed branch to cash it. I did and the lady told me she could cash or I could open an account with the funds. I told her I have no connection to any Armed Forces she said that's OK, the check counted as a referral and that was enough to get me in. I said thanks but just the cash please.
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u/Vegetable_Nerve8762 Mar 30 '25
It’s possible, when my credit was around a 620, I took out a loan through Bridgecrest (carvana) for a 2016 Honda civic ex-l with low mileage that was around 23k. I was given a 17% APR (which is insane, my payment started at like $550) but I refinanced (through Navy Federal) within a few months after getting my credit score up to about a 680 and got 9%(payment dropped to $393), which is still high but better than the 17%. This was back in nov ‘21 that I got this car. I’m still paying for it because of the loan terms. The car has been great so I have no reason to get rid of it, but I do wish I would have waited until my score was better to get a better interest rate from the beginning, especially because I had a car that was pretty much fine.
I’ve been upside down on the loan the entire time, but I’m about $1500 away from being even now because my expenses decreased substantially in the last few months so I’ve been able to pay more. My credit profile is better now because I’ve paid off CC debt, so I’m considering one last refi to try and get something lower.
The interest really does add up, so if you absolutely have to get a car and need one around that price, you can definitely find financing, but if you have other options I’d consider those as well.
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u/icee_light Mar 30 '25
Absolutely. How do you think Ram trucks get sold? You should be prepared for a not very favorable interest rate.
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u/Rambo_1027 Mar 30 '25
Yes, you can. As long as you don’t have any crazy repo anything that could scare away lenders you can get approved. I actually got capital one auto finance to approve me for 8% at 570 credit score, had collections past due that we’re still kind of hurting my credit.
Fixed everything while I was financing and within a year and a half I was able to refinance with a lower APR and lower car payments.
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u/DashingSimp Mar 30 '25
Did you put a large down payment
Asking cause I had a 600 credit score and also got a 22k car and my apr is almost 17%
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u/Rambo_1027 Mar 30 '25
Only put down 500 and my car payments were 648 which I was comfortable about. A year later, refinanced to 330$
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u/DashingSimp Mar 30 '25
How did you get it lowered so much??
My car payment is $625, 72 mos
Capital one auto loan
Want to refinance asap but my credit union denied me already
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u/Fit-Quality7407 Mar 30 '25
Capitol One Auto Finance, 24k loan, 620 credit, 3k down payment. 8.77% interest
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u/Bulky_Load3068 Mar 30 '25
In this sub if your score isnt 850 you shouldn’t buy it! Lmao if you’re ok with the higher interest you’ll get w your score then go for it. I’d suggest a credit union first and take the offer to the dealership n see if they can beat it
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u/OutrageousProduct115 Mar 30 '25
I wouldnt buy 25k loan for a car
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u/Dont_Be_Sheep Mar 30 '25
Credit is not equal to income. It is a lot of the time but not required.
What if the dude just got an inheritance but it’s in a trust that pays out monthly instead of all at once, and now pulls in 300k a year?
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u/iwantapizzababy Mar 30 '25
Wow you’re right. He should definitely take that loan. Thanks for the great advice!
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u/Krakatoast Mar 30 '25
Let’s be honest. If someone has healthy income they either have good credit or a bad spending problem. Also, how likely is it that OP just got an inheritance that pays monthly and is now considering taking out a car loan with a 630 credit score?
Most likely they’d be best playing this conservatively. The car market is more expensive than it used to be but imo I’d go for cheapest reliable vehicle. In the off chance that they have healthy income they can use the extra money to fix their credit
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u/Syzygy_Apogee 2d ago
There’s a lot of factors morons like you don’t consider like people who need a car but are on fixed income due to a disability but still manage what income they have well enough to pay the loan. Not everyone was born healthy and with a mommy and daddy there to coddle them through everything in life.
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u/Own-Spite1210 Mar 30 '25
When my credit was low I got a loan through Carvana (Bridgecrest). The APR was hella high, but I just refinanced last week now that my credit is better. You CAN get a loan, it’s just you need to pay attention to the interest rate.
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u/Traditional-One885 Mar 30 '25
After I finance a house, I’m doing this.
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u/Own-Spite1210 Mar 30 '25
I actually bought a house a couple weeks ago so my credit is at an all time high, def helped
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u/thecasualnuisance Mar 30 '25
My bank advised me to take a car loan from a dealership and refinance with the bank after 6mos for a lower interest rate.
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u/Own-Spite1210 Mar 30 '25
That’s what I did, Bridgecrest is carvana’s in house lender. Now I’m with my bank
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u/EducationalMap5740 Mar 30 '25
Try capital one auto navigator. I have two with them and my score for the first one was low
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u/Cool_cudi Mar 30 '25
Their interest rate be high tho
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u/amanor409 Mar 30 '25
Not necessarily. I got 7.9% with a 635 credit score and only put down $3,000. Which was the money I got from insurance after my insurance company paid off my other car after some drunk driver crashed into it while parked on the street.
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u/DoctorOctoroc Mar 30 '25
It's less about whether or not you'll get a loan as it is about what kind of lender they'll be and what interest rate you'll be looking at. When it comes to a car, it's not uncommon to see someone with fair credit and/or insufficient income to be approved for a loan, but the interest rate will be predatory.
And generally speaking, lenders care just as much about your credit file as (if not more than) your score. What is the deficit on your score right now? Is it simply that you have very little history? High utilization on credit cards? Negative items like late payments (and if so, how severe), charge offs or collections? Those elements play a larger part in approval than your score - although a low enough score can mean instant denial with some lenders.
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u/amartin1980 Mar 30 '25
I'll recommend a credit union. But if you can afford the payments on that, you can afford to pay yourself payments and buy one for 5k cash fast.. Then bump your credit and get the expensive one after.
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u/ConnieTxRN Mar 30 '25
My score was in the 600’s when I got my loan. I had the income and job history. Was approved by Capital One Auto. >30k @ 6.57%. APR was reduced to 4.93% a couple years into the loan.
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u/lynnzee Mar 30 '25
If you can afford the payments with the high interest, sure. The interest rate will suck, but you'll find someone to give you the money.
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u/ms32821 Mar 30 '25
If your credit is 630 might want to consider something that cost a lot less. Interest is high and you’ll remain in a cycle of bad financial decisions the rest of your life if you don’t break the cycle.
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u/OftTopic Mar 31 '25
For general reference, Nerd Wallet Nerd Wallet lists the average rate for auto loan per credit score range.
Nonprime: 601-660
New: 9.59%.
Used: 14.46%.
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u/kaylazomg Mar 30 '25
Just save my friend, the loan is double the amount given your low score you’re spending $60k. Bad investment
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Mar 30 '25
[removed] — view removed comment
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u/Unique-Ad-2544 Mar 30 '25
People aren't allowed to have nice cars??
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u/Evening-Ear-6116 Mar 30 '25
They absolutely are! So many people choose a “nice” car over something reasonable that does the same thing, and then they are stuck with it (and the payment) for YEARS while they try to work through the negative equity.
Long story short, you are allowed to make a stupid decision. Doesn’t mean it isn’t stupid.
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u/pain-is-living Mar 30 '25
Why do people who are broke with a shot credit score think they deserve a nice car?
A nice car is a luxury, not a necessity. If your credit is in the shitter and you need to finance a car, you should be getting the cheapest one you can find and keep alive until you sort your life out.
My dad drove beaters his whole life, I drove beaters my whole life, neither of us are broke, but we live within our means and don’t like being in debt with insane interest rates on consumable machines.
Being perpetually broke is usually a choice, and when people keep making dumb decisions, you’re gonna get laughed at.
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u/Resident-Impact1591 Mar 30 '25
I don't think a car priced at that amount would get approved. It'd most likely be too old or have too many miles.
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u/cashga Mar 30 '25
Yes it would get approved. Why would it not? 25k loan is only a few years old. With relatively avg miles
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u/Resident-Impact1591 Mar 30 '25
Because banks have criterias on the collateral. A 5k car is worthless at auction and they wouldn't get anything back in the event of a repo. It's typically harder for a person with bad-mid credit to get approved for older cars that's why they'll say "can't be more than x years old and can't have more than y miles", but less than x years old and less less than y miles typically costs more than 5-10k.
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u/AirsoftSellinGuy Mar 30 '25
Depends what kind of down payment you have on the vehicle, and also what kind of car you’re buying. Always better if you can scrape together some money/shop around for financing.
If you’re tight for cash, don’t be picky about what car you buy. The market is soft right now, another deal will come up.
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u/SofaKingCool713 Mar 30 '25
If you're working with that credit number and need to get a vehicle, it'd be ideal to target a car that is in the $8k-15k price range. Depending on where you're located, have you tried looking at credit unions? They're much better in terms of getting lower rates and better odds of approval. TBH, rn is not the best time to get loans, etc, due to higher interest rates.
I remember barely having any credit when I was young back in 2011 and purchased my 1st vehicle through a credit union in Houston (recommended by family/friends). I set it to where my monthly was super manageable ($275), selected 60 months, but paid it off within 3 years (some months I was able to pay more; it was an $18k loan for a 2005 Lexus GS430 with 55k miles). Knowing that lexus/Toyota parts are much cheaper if I had any issues and that I had family/friends that could help if I needed something replaced or fixed. Just try to temper your expectations to what you can manage and you should be good.
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u/Ok_Highlight_8577 Mar 30 '25
My situation they told me the car had to be a certain price is that right or did I get snaked.
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u/Bulky_Load3068 Mar 31 '25
Not necessarily, if your credit is considered high risk, the bank will require it be a newer car over x amount , so that if it ends up in auction they can actually make some money off of it. If you went in looking for a $10,000 car with a ton of miles by the time it went to auction they wouldn’t make hardly anything if at all.
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u/Ryan-v-616 Mar 30 '25
I got a $28,000 car loan with 577 score last summer. I got a 10.74% interest rate which isn’t great but I’ve got a co worker who said he got 10.5% and his credit score was 800.
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u/No_Specifics8523 Mar 30 '25
You def can but shop around for a the best rate you can. All the different credit hits within the same month will look like one hard hit to your credit.
The average used car rate right now is 11.65% but with your credit it’ll likely be higher. The difference between an 9% rate and say a 20% rate is whether you pay $500 or $600per month.
Also I know they allow you to, but try not to finance anything over 60 months. You’ll likely be getting used car and you don’t wanna be paying on a used car for the next 6 or 7 years. I’d hate to have a $600 car payment on a 10+ year old car.
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u/Unique_Worth_6312 Mar 30 '25
I’d recommend looking for private loans, maybe from your parents or a friend, something with a reasonable interest rate, atleast $10k have some money to bring to the table, they’re gonna fuck you
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u/Obse55ive Mar 30 '25
We just had to take my 2012 Scion into the shop-needed a tune up and they were like possibly an engine rebuild might be needed which would have been almost the cost of the car. It's working fine now but I'm worried that with the tariffs that getting a new car will be unobtainable soon. Just looked up a whole bunch of hybrids and EVs and most companies are offering 2.99% for 60 months which happened to be the interest rate I paid for my car when I first got it. Most of those cars range from lower 30k to higher 30k. However my credit score is 700 and my husband's is maybe a bit higher. You will probably not get a good interest rate unless you find maybe a cosigner. in your position maybe pay cash for a reliable used vehicle and then when your credit score increases, then start looking at newer cars.
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u/ManduhhL33B Mar 30 '25
I got a 25k loan with a 666 credit score ..history matters a lot though .. for reference my Husband had a 760 and he needed a co signer bc of not a lot of history.
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u/Current_Driver_1036 Mar 30 '25
You definitely can, but your interest is probably going to be very high… before I completed my rebuild. I had a 640 and I took out a loan for 20 grand….. before covid that made all the interest rates and stuff go wild and after I paid my car off. With the money down and six years of payments it was only 325 a month but now that I got my title and final statement from Capital One I ended up paying about seven grand and interest. And that’s before Covid. I’m sure things are only worse now is how much cars have gone up that being said my wife needs a new vehicle and I’m done rebuilding and I’m over 725 now the vehicle we are going to get for her the interest I will be paying on. Our new loan will be 3.25% through capital one and I am going to be doing biweekly payments which you’re gonna eat the interest and cut the shit right down.
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u/PiratePandaPajamas Mar 30 '25
Check out Capital One's Auto Navigator app. They'll pre qualify you and show you what's available nearby and how much your payments will be. I just bought a brand new car in January, with a 650 credit score. Just make sure you have the income to afford the payments and if you can always pay extra. My monthly payments are $392 a month but I pay $400 on the 1st and $400 on the 15th, with everything extra going towards the principal.
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u/jaywally855 Mar 30 '25
There are numerous places that will do this. However, I have to comment that this is obviously a bad idea. You don't have any business incurring $25,000 in debt for a vehicle. if your credit score is this bad, you need to work on your overall finances a lot more before you indulge yourself with such an expensive purchase.
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u/Rare_Average_1994 Mar 30 '25
I just did with Carvana. Higher interest but payment and price are low enough I’ll have it paid off by the end of the year from throwing extra money every month and it was the easiest car buying experience I’ve ever had.
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u/amanor409 Mar 30 '25
I'd try for Capital One pre-approval first. See what they offer. You may be able to get sub 10% apr, but that would be your best option.
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u/Garage-Terrible Mar 30 '25
Some places like Cap One and Carvana will let you check your rate without a hard pull. Cap One gives you a discounted rate if you buy from some dealers. Also different cars have different rates with Cap One and it’s interesting to see that. For example a Hyundai might be 14% vs 9.5% for a Toyota.
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u/Which-Act7035 Mar 30 '25
I got Approved with Raiz on a 2025 k5 worth $41k with 620 credit. But i had a co signer and she also has the same credit. I think having a co signer will for sure guarantee you’ll get that car. But i think theres also still a chance you can get that car with that credit alone
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u/AwarenessTrue3039 Mar 30 '25
My son just got one thru Capitol one-640 credit score 7.3 apr 0 down .
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u/Slow_Car_8204 Mar 30 '25
I listen to so many car loan horror stories on the Ramsey podcast. People get underwater on the loans so quickly. I’d just save up and buy an older Toyota/Honda for 5-7k. Even with high mileage those are dependable vehicles.
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u/naty67 Mar 30 '25
Yes but you may get high interest rates. So watch out, try going for credit unions they don't offer high crazy interests.
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u/duke9350 Mar 30 '25
Probably with a loan shark interest rate where you’d end up paying double the cost of the vehicle’s worth.
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u/KT_WV Mar 30 '25
Yep you can be ready for a higher interest rate but you absolutely will be able to get approved.
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u/TheSweetBobby Mar 30 '25
You can, but you probably shouldn’t. Buy something seven years old that’s reliable. I recommend Honda, Nissan, or Toyota.
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u/bubblybellesouth Mar 31 '25
I got one with a 550 at Toyota. They said if it wasn’t for my pay stubs i wouldn’t have been approved.
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u/mest08 Mar 31 '25
My credit is right around 630. I just bought two new cars a month ago. One with 0 down and one with 2k down. 3.9% interest rate on both through Ford. Both cars about 35k.
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u/monstergoy1229 Mar 31 '25
Sure you can but If you have a 630 credit score you shouldn't be buying a new car. You're obviously doing something wrong
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u/Boring_Investment777 Mar 31 '25
I would go for a $19000 Honda with that credit. Put a few grand down then get a lower payment
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u/Savings_Taste8560 Mar 31 '25 edited Mar 31 '25
I did. About 650, 26k. Interest is miserable but I did what I had to do. Capital one preapproved me & I got it with them. I think my interest is like 9%. Payment is 426, down payment was $2k. 2022 Nissan frontier, 14k miles
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u/Expensive-You-9039 Apr 01 '25
Yes I got 21k with 630. I don’t see why 25k would be a problem. Also I went to a credit union instead a bank
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u/mizx12 Apr 02 '25
“How can I get a loan to ruin my future and lower my shitty credit score even more?”
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u/SinderHella13 Apr 02 '25
Credit Acceptance will probably approve you but your rate will be 22-36%.
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u/iamroot115 Apr 02 '25
If your car doesn’t have crazy high miles on it, like 200k If your monthly income after rent isn’t too low If you’ve never had any bankruptcies or delinquencies or defaults in the last 2 years
You’ll most likely get a subprime loan with an interest rate almost as high as they legally allow in whichever state you’re living in. (18-20%). But most of them don’t do direct lending, you’ll have to go through a dealer. And the dealer will definitely add some bullshit fee of 1-3k on it
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u/chalez88 Apr 03 '25
Why, save up and buy a car you can afford. Loan is just gonna help you buy somthing you can’t actually pay for and take more money with interest. You don’t need a 25k car bro, especially if you can’t pay for it
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u/sapientiaeultio Apr 04 '25
Carvana approved me with lower. Interest rate isn’t good but you can always refinance in a few years. Helped my credit get to where the next one won’t be so expensive.
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u/Elegant_Ad_571 Jun 29 '25
🧐 reading these are kinda wild. I purchased a $38k truck with a 6.9% rate…. And I only had a 619 score at the time. I went with a local credit union to get preapproved before finding a vehicle. Prior to that I’d always purchased from Honda because they used to do “credit forgiving” loans. As long as you had enough stable income and went with a new car they had listed, you were approved and THAT rate was only 4%. It was chance I needed to start building my credit back after bankruptcy and I’ve never missed a payment or been late on a single vehicle since. Not everyone with bad credit make bad choices. Sometimes it’s losing a job or in my case going thru divorce where I was the one taken for everything (also never co-signed and never will again since then).
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u/Wide_Geologist_872 Jul 18 '25
I have terrible credit and I was able to get a car I HAD to put up 1,800 dollars but they will work with you the first dealership I went to I got a car I messed my life up by doing drugs but I turned my life around have 5 years clean and I me messing my credit up didn't stop me from getting a car if I can do it so can you
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u/Search_Prestigious Mar 30 '25
I got a 90K 2024 Tesla model s plaid from carvana, with a 630 (failed business).. but i have stellar income
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u/Humble_Libra Mar 30 '25
I wouldn't do it. Get a decent reliable car, and pay for it outright. To hell with financing a car, and paying car payments every month.
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u/OutrageousProduct115 Mar 30 '25
You cann. U qualify for the highest interest rate. At that credit. U shud call em
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u/ChonkySkink Mar 30 '25
Youre asking the wrong question. "Should i get a 25k car loan with 630 credit?"
No. No you should not.
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u/TheBestDanEver Mar 30 '25 edited Mar 30 '25
Not even trying to be offensive by saying this, I was literally at like 640 a couple months ago myself.
You're gonna get a miserable interest rate from a shitty lender with that score. Signing on for 25k loans like that is the behavior that gets us bad scores in the first place lol. Either save up and buy something cheap. While you get your credit together or you should buy a considerably less expensive used vehicle and pay it off ASAP while you get your score up. Maybe once that's paid off you can consider taking out a loan for a more expensive vehicle if you're still dying for one. In my experience, new cars are only exciting while they're new. After a while, they become "this piece of shit that costs me 500 dollars a month."
Edit: Adding an edit because people seem to be reading my comment and thinking I believe a 25k vehicle is unreasonable, I don't. I think a 25k vehicle at the interest rate you're likely to receive with a 630 credit score is unreasonable. You are likely to have a car payment in excess of 500 dollars a month and likely costing over 40k over the course of 7 years. The same loan with a score over 700 would likely get you a monthly payment of less than 400 dollars, meaning you could pay the difference every month toward principle, taking years off the loan. You are way better off getting your score up before taking out a loan for a large sum of money. Stuff like this is literally how people (myself included) end up with scores closer to 600 in the first place.