3 High Quality Cars You Can Get with Low Credit

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Buying a car with low credit isn’t easy. Getting a car loan could be challenging, and if you are approved, you’ll likely pay a higher interest rate. Luckily, several car brands and dealerships have programs that can help you get financed even with a low credit score.

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According to Kelley Blue Book (KBB), you’re more likely to get approved for auto financing if you have a credit score of over 660, but you could still qualify with a lower score. Experian (via KBB) noted that borrowers with a credit score of 600 or below accounted for about 15% of new and used car loans. Additionally, in the third quarter of 2023, over 34% of new and used car loans and leases went to borrowers with a credit score of less than 661.

If you’re looking for car brands that work with low-credit borrowers, CarsDirect says you could find luck with Ford, Kia and Hyundai. There are also specific dealerships that specialize in bad credit car loans. Another option is to shop for private sellers that are selling cars at a discount.

Ford

In some situations, Ford finances bad credit borrowers. Ford has six credit tiers ranging from 0 to 5. The better your credit score, the lower the tier Ford assigns you. In 2021, the automaker even dropped their minimum credit score requirements altogether on 84-month loans, according to CarsDirect. Keep in mind that if you do rank higher on Ford’s tier, you will have to pay a higher interest rate.

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Kia

Kia offers financing rates for borrowers with credit scores as low as 620 through Kia Financial Services, the captive finance arm of the automaker, as reported by CarsDirect. If you are approved for a loan with a lower credit score, you will have to pay a higher interest rate.

Hyundai

Hyundai uses a wide range of credit scores to determine its financing tiers. According to CarsDirect, the lowest credit score that Hyundai finances is below 580, which is much lower than what other companies are willing to finance. Hyundai Capital America sometimes covers its lower-tier consumers, but it’s often for longer-term loans. This means that not only will you pay higher interest rates, but payments are also spread out over a longer period of time.

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