Can I get a car loan with a credit score under 500?

Yes, you can get a car loan with a credit score under 500, though it will be harder and more expensive than traditional financing. Lenders that work with very low credit scores typically charge higher interest rates—often 15% to 29% or more depending on the lender, down payment, and vehicle price. They also look beyond just your score: income stability, employment history, debt-to-income ratio, and whether you have a cosigner all matter. Some lenders focus specifically on deep subprime borrowers and may approve you where banks won't, but they'll want proof of income and may require a larger down payment or a vehicle with lower mileage. The real challenge at sub-500 scores is that your options narrow. You're typically looking at buy-here-pay-here dealers (who finance their own inventory at very high rates), credit unions if you're a member, or specialized subprime lenders. Traditional dealerships and banks rarely touch scores this low. A cosigner with better credit can open doors and lower your rate significantly. Also consider whether rebuilding your credit first—even to 550–600—might be worth a few months of work, since the rate difference is substantial. Elite Edge works with multiple lenders who specialize in approvals for buyers with scores under 500, including those with no credit history, ITIN status, or income challenges. We shop real dealer inventory and multiple lenders at once, so you're not stuck with one option. Text or call (954) 907-2386 on WhatsApp, or use the free 60-second Pre-Qualify at eliteedgeautobroker.com/PreQualify to see what you actually qualify for—no obligation, and you never pay us.

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