Will a 608 Credit Score Get Me an Auto Loan?

Go to best loans »

Advertiser Disclosure: CompareAuto.loan may receieve compensation for the products listed. Read our full Advertiser Disclosure

Q: I’m expecting to try for an auto loan this week, but my credit score stands at 608. Will that be sufficient to get a car loan, or will I be refused every place I try?

A: It really is entirely possible to apply successfully for an auto loan with a 608 credit score. Think carefully about this loan data which comes from Experian:

Believe it or not, Experian also highlighted that vehicle loans for borrowers having scores of under 608 represented 20% of all auto loans in 2019!

If your credit score is of about 608, you’re going to have the best luck being eligible for finance if you try for vehicle loans online. Taking this path will make it an easy task to do a comparison of all the prices from a larger variety of providers and you will be using the services of businesses that are far more accommodating in relation to accepting low credit score applicants. If you’re not sure how to start, check the following list of services.

Up to $50,000
Individual rates
Bad credit
Loan Terms
6 months to 6 years
Required Credit Score
Up to $35,000
Starting at 6.90%
Bad credit
Loan Terms
2 months to 7 years
« Show more alternatives »

The exact same answer holds good for auto loans for people with a credit score of 609, 610, 611 and 612.

Though you’ll be able to make a successful application for a personal loan or an auto loan with a very bad credit score, the downside is that interest rates are often higher. You may be able to qualify for a more reasonable interest rate if you can put more money down on the vehicle. You can also have a shot at improving your current FICO score.

Improve your credit rating and interest rate

Let me share a few tips on potentially increasing your credit score when applying for a car / auto loan:

  • A number of loan companies are willing to forgive one-time failures and get them removed from your record. Establish if this is relevant in your case.
  • Get registered on Experian Boost so your utilities and telephone bill payments counted towards your credit score.
  • Credit cards, decrease the amount of your credit you are using less than 30%.
  • Get on top of as many bills and outstanding debts as possible.
  • Request your free credit reports, check them out for mistakes and challenge any that you discover.