Are you looking for a car loan but your credit score is 640? A FICO credit score of 640 falls in the average range and you can definitely get a car loan with that score but you will have to pay a higher interest rate (APR) than someone with let’s say a 680 credit score, keep in mind that lenders do not only look at the credit score when deciding who to give a car loan to. Your current income and debt to income ratio play a huge part of the decision.

A credit score of 640 is going to most likely require a down payment of 10 percent in cash or trade. If you can put down 15-20 percent down then that’s even better as it will definitely lower you interest rate and you will end up paying less over the course of your loan term. Читать далее →