Can You Get a Car Loan With a 450 Credit Score? Here's What to Expect

Having a low credit score puts you in a pretty slim category for getting a car loan, but what does that mean exactly? We're going to look at how it affects your purchasing power and what you can do to secure the vehicle of your dreams. Find out how to get approved for a car loan with a 450 credit score below!

If you have a 450 credit score, you are deep subprime territory. While your paycheck and your job history still matter, the score itself is a huge hurdle. Lenders look at a number this low and see a high-risk situation. If they decide to work with you at all, they’re going to protect themselves by loading your loan with high fees and interest rates. The lower your score, the more expensive it becomes just to access the money you need.

• Having a 450 credit score not only makes it harder to secure a loan, but if you do, your interest rates will be higher. 
• Auto loans are some of the easiest to secure with bad credit. 
• Having a co-signer can help you get a lower interest rate if you have a low credit score.
  

Auto loans are actually the most common type of credit available for people in this range, but the credit "tax" you'll get is high. To compare and contrast, as of early 2026, a buyer with a 720 score paid an APR of roughly 6.3% for a five-year loan, while someone in the 500-range paid about 16.7%. If you finance a $40,000 truck, that score difference is going to cost you over $12,300 in extra interest. (You can buy a used car in cash with that money!)

It's not all about the number. These factors will also affect interest rates:

• The loan's size: If you keep the loan amount small or offer a big down payment, lenders will be more comfortable extending a better rate to you.
• The loan's terms: The faster you pay back the loan, the less you'll pay in interest. Short-term loans almost always come with lower rates than long-term loans.
• The vehicle’s age: For most lenders, brand-new cars get the best rates, while older, used models tend to be more expensive to finance.

There isn't a "magic number" required to buy a vehicle, but your score is the main thing lenders look at when deciding your interest rate. It’s a good move to check your credit report a few months before you head to the dealership to make sure the information is accurate. If you look at it three to six months ahead of time, you'll have a window to fix any mistakes or try to boost your rating. You should do this even if you aren't financing a car, since insurance companies often use your credit score to set your premiums.

If you don't have much of a credit history or you do, but it's not great, a co-signer with solid credit can help you get an approval and a better interest rate. If you can’t find a co-signer, you might want to hold off until you can save for a bigger down payment. Lenders are often more flexible if you can put more cash down at the start.

There isn't one universal definition of a bad score. If your report is messy, you’ll have a harder time, but no one number can predict how a person will handle money in the future. If you have any questions about getting a loan, contact our finance department today. We're here to help!