Is a credit score of 650 good enough to get a brand new car?

If it is what do you think the possible hook up for a credit score like that. What is a good amount to put down on a $24,000 car?

Public Comments

1. yes it should be good enough. Put $5000, down, 20%.
2. maybe, but you won't get the best rate and you'll need decent down payment
3. Yes you should be able to get a car with a good down payment. I would try about 2,000-3,000 down and see if they accept.
4. I was able to get a SUV with a lower credit score than that so I'm sure you will have no problem getting financed.
5. 650 is the average score....wish mine was that good, but yes you should have no problem at all! I would put down at least a couple thousand, the more you put down the better your payments.
6. Yes you can get a loan for a new car (in fact it is usually easier to get a loan on a new car over a used). You will however have a higher interest rate over someone who has a better and higher credit score. And the more you put down on a car the lower your payments are. So if you want a payment of $350 per month you need to put more money down to get to that payment. Or they can extend the term for you (not recommended because of depreciation) So you do have options. Trust me the salesperson will try to get as much down as possible from you. If you can afford to put more down it benefits you!
7. Yes it is and you should be able to finance it without a down payment. I always suggest you finance a car a hundred percent, especially if you use it in a business a good bit, as you then can shelter some of your income via write offs. If you can't afford the payment, then put some money down. There are deals out there that are still offering 0 t0 2.99% interest, especially on model close outs on 2007 cars. Look long and hard at the different deals and make the car dealers work for your business. Good Luck.
8. Yes and don't put any money down as you don't have to, as model close outs on new 2007 are offering all types of good deals. Your score is about average, but you should have no problem, make the car people earn your business.
9. Yes, but they might try an put you in a higher interest rate, so you have to be firm on what interest rate you are willing to pay. myself no higher then 8.9 %. Car dealers get a kick back on interest you pay so the higher the interest the more money they make. You need about $5000.00 down with trade or some cash. As doc fees, taxes, license fees will eat up most of it. Be firm on adding warrenties, gap. You can get better deals off the internet.
10. Yes, Go get it.
11. try capital one auto finance.They are good with people with lower credit scores. Yours isnt terrible but you will get a higher apr.