489 Credit Score Car Loan

By Sanjida Mollick

The 489 credit score car loan is an excellent option for individuals with poor credit. With this loan, those with a lower credit rating can still get the vehicle they need. This loan makes it possible to shop for and purchase a car without having to wait to save up and pay cash. Best of all, it's easy to apply and often times you can get approved within 24 hours!

Table Of Content:

4. Is 489 a good credit score? | Lexington Law
Is 489 a good credit score? | Lexington LawOct 11, 2021 ... It won't be easy to get approved for a car loan with a credit score of 489. If you are approved, it may be at an extremely high interest rate ...

5. Car loan interest rates with 489 credit score in 2022
Car loan interest rates with 489 credit score in 2022Those with 489 score tend to have the most problems when applying and trying to obtain a vehicle loan. It does not matter the type or price of the vehicle they' ...

What are the requirements to qualify for 489 credit score car loan?

The main requirement is to have a 489 or higher FICO score. Generally lenders also require proof of income, residence and bank account information.

Are there any other eligibility requirements?

Yes, lenders will also consider your debt-to-income ratio and employment status when determining your eligibility. Your overall financial profile is taken into consideration when applying for a car loan.

How much interest will I pay on a 489 credit score car loan?

Interest rates depend on several factors including the age of the vehicle, amount borrowed, length of repayment period and your current credit situation. Generally borrowers with a 489 credit score can expect interest rates between 10-15%.

Is it possible to get better terms in the future?

Yes, if you manage your payments responsibly and keep up-to-date with payments, you may be able to refinance in the future for better terms on the same loan or even qualify for new loans at more favorable rates in the future.

How long does it take to get approved?

It usually takes same day approval depending on your lender but some may require additional documents which can take longer than others. On average most applicants should receive their approval within 24 hours.

The 489 credit score car loan is a great option for those looking for an affordable alternative when buying their next vehicle. This loan offers competitive interest rates fixed over the life of your loan along with shorter term lengths if necessary; making owning a car easier than ever before!

Sanjida Mollick

View all posts