Will a 659 Credit Score Get Me an Auto Loan?

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Q: I have to put in a request for an auto loan in the next few days, however I only have a credit score of 659. Will that be good enough to get a car loan, or am I likely to be turned down every place I go?

A: It is quite possible to successfully obtain an auto loan with only a 659 credit score. Consider this data which comes directly from Experian:

Believe it or not, Experian also highlighted that vehicle loans for car buyers with credit scores below 659 represented twenty percent of all auto loans during 2019!

If you’ve got a credit score of around 659, you will definitely have the best luck being approved for that loan if you submit an application for vehicle loans online. Doing so makes it possible to do a comparison of offers from a huge array of providers and will also be working with companies who are far more flexible when it comes to authorizing low credit score borrowers. If you aren’t sure where to begin, have a look at our companies list.

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
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The very same tactic applies for auto loans for those having credit scores of 660, 661, 662 and 663.

While you could successfully put in an application for a personal loan or auto loan with a dismal credit ranking, the down side is that you’ll have to pay a higher interest rate. You could qualify for a slightly more competitive rate of interest if you can put an advance payment down on the vehicle. You also can try to boost your FICO score.

Greatly improve your credit rating & interest rate

Allow me to share some tips for possibly boosting your credit score prior to applying for an auto / car loan:

  • Obtain your free credit reports, check them out for mistakes and challenge any you come across.
  • Get registered on Experian Boost to get your utilities and phone bill payments to count towards your credit score.
  • A number of loan providers are prepared to pardon one-time issues and eliminate them from your credit history. Check into this if it can be applied to your situation.
  • Credit cards, cut down the amount of your credit you’re using below 30%.
  • Settle as many bills and outstanding debts as you can.