Minimum Credit Score to Buy a Car Without a Cosigner

Buying a car is a significant financial decision, and your credit score plays a crucial role in determining whether you'll qualify for financing on your own. Understanding the minimum credit score requirements for auto loans without a cosigner can help you prepare for the car-buying process and potentially save money over the life of your loan.

Key points

• There is no set minimum credit score for buying a car without a cosigner, but if you have a credit score below 661 (prime threshold in Experian VantageScore tiers), you may find it easier to be approved and get better rates if you have a cosigner.
• If you have a cosigner and you fail to make payments, your credit and your cosigner’s credit will be negatively impacted, potentially harming your relationship with them.
• You can still qualify for an auto loan if you have a low credit score, but consider building your score first to give yourself a better chance of approval and qualifying for lower interest rates.

What is a cosigner for a car loan?

A cosigner on a car loan is someone who applies for the loan alongside the primary borrower and agrees to take legal responsibility for the debt if the primary borrower cannot make payments. During the application process, lenders will check both the cosigner's credit history and debt-to-income ratio, along with the primary borrower's financial profile.

The cosigner must typically have good credit, sufficient income, and a debt-to-income ratio under 36% to help qualify for favorable loan terms. If the primary borrower misses payments or defaults on the loan, the cosigner becomes legally responsible for making those payments, and missed payments will negatively impact both parties' credit scores.^[1]

Is there a minimum credit score to buy a car?

There’s no universal minimum credit score that you need to buy a car, but certain auto lenders might set their own minimum credit scores. Depending on the lender, the minimum credit score they accept may vary, depending on whether you have a cosigner or not, and other factors like your down payment and your debt-to-income ratio.

Data from Experian's first-quarter 2025 report shows that approximately 66% of cars financed were for borrowers with credit scores of 661 or higher.^[2]

It’s still possible to qualify for an auto loan if you have a lower credit score, but you might find it more difficult to be approved, and you may have to pay higher interest rates than someone with a higher credit score.

Interest rates by credit score range

A number of factors influence your interest rate for a car loan, and your credit score is one of the main things that determines how much interest you’ll pay. Your credit score demonstrates your risk level to a lender; typically, someone with a lower credit score is seen as a higher-risk borrower than someone with a higher credit score.

Data from Experian as of Q1 2025 shows that someone with a Super prime credit score (781 or above) would have an average APR of 5.18% for a new car, or 6.82% for a used car. This is much lower than the interest rates someone with a Deep subprime (300-500) credit score could expect to receive (15.81% for a new car or 21.58% for a used car).

This demonstrates just how important your credit score is when it comes to being accepted for an auto loan, and how much you’ll pay in interest over the life of the loan.^[3]

Source: Experian data as of Q1 2025; VantageScore® 4.0 used ^[3]

Alternative auto financing options

Borrowers who cannot qualify for traditional auto loans without cosigners have several alternative options, though these typically come with higher costs.

• Buy here, pay here dealerships (BHPH)- These providers may not require a traditional hard credit check and often rely more on income verification. However, these loans often carry very high interest rates, and on-time payments may not help build credit history. Not all BHPH dealers report payments to the credit bureaus; ask the dealer to confirm whether they report (and to which bureaus) before you sign.^[4]
• Marketplace lenders - These platforms connect borrowers with various funding sources, and may have more flexible approval criteria, but should be carefully evaluated for terms and conditions.^[5]
• Community banks and credit unions - May have programs specifically designed for first-time buyers or those with limited credit history. These institutions sometimes consider factors beyond credit scores, such as local community ties and employment stability.^[6]

Getting a car loan without a cosigner

If you have a low credit score but you’re looking to buy a car with financing, there are a few options you could consider if you don’t want to add a cosigner.

• Increase down payment amounts - This can significantly improve approval odds and reduce monthly payments. Larger down payments demonstrate commitment and reduce lender risk, potentially leading to better terms even with lower credit scores.
• Consider used vehicles - Used cars often cost less up front, but used-car APRs are typically higher than new-car APRs, and lenders may set age/mileage limits.
• Shop multiple lenders - Compare offers and find the most favorable terms. Different lenders have varying risk appetites and may offer different rates for the same credit profile.
• Build credit before applying - By paying down existing debts, ensuring all payments are current, and avoiding new credit inquiries. Even modest credit score building can result in better loan terms.
• Demonstrate income stability - Through employment documentation, tax returns, and bank statements. Lenders may be more flexible with credit requirements for borrowers who can demonstrate consistent income and financial responsibility.

Frequently asked questions

How much does a cosigner help with a car loan?

The impact a cosigner can have on your chances of approval and your interest rate for a car loan will vary depending on a number of factors, including your credit profile and the cosigner’s credit profile. If your credit score is poor but your cosigner’s credit score is excellent, this can make you more likely to qualify for loans with more favorable terms.^[1]

Whose credit score does the lender check when you use a cosigner?

If you’re applying for a car loan with a cosigner, the lender will check both your credit score and the cosigner’s credit score, and you will both need to meet certain eligibility requirements.^[1]

Can I get an auto loan without a cosigner if I have poor credit?

It is still possible to get a loan without a cosigner, although you might find it more difficult to qualify, and you may have to deal with less favorable loan terms and higher interest rates if you have poor credit.

Bottom line

While there’s no universal minimum credit score to buy a car without a cosigner, many lenders set their own limits, and it can be more difficult to qualify for an auto loan if you have poor credit. Adding a cosigner can make it easier for you to access loans with lower interest rates if the cosigner has a good credit score. But keep in mind, if you miss payments on your car loan, this will negatively impact your credit score and your cosigner’s, potentially damaging your relationship.

If you have poor credit but you want to buy a car without a cosigner, consider strategies to build your credit first, like secured credit cards and credit builder loans. Building your credit score first can help make it easier to access auto loans with lower interest rates.

Sources

1. Experian, “Pros and Cons of a Cosigner on a Car Loan” https://www.experian.com/blogs/ask-experian/should-you-get-a-cosigner-on-a-car-loan/
2. Experian, “Automotive Finance Trends Q1 2025” https://www.experian.com/content/dam/noindex/na/us/automotive/finance-trends/2025/2025-q1-experian-state-auto-finance-market-report.pdf?SP_MID=48148-g&SP_RID=21977853-g&cmpid=Auto-US-26-100%20SAFM%20Q1%202025%20Report%20%28001%29_48148
3. Experian, “Average Car Loan Interest Rates by Credit Score” https://www.experian.com/blogs/ask-experian/average-car-loan-interest-rates-by-credit-score/
4. Investopedia, “Buy Here Pay Here Dealership Explained” https://www.investopedia.com/terms/b/buy-here-pay-here.asp
5. Bankrate, “What is Marketplace Lending?” https://www.bankrate.com/loans/personal-loans/what-is-marketplace-lending/
6. Investopedia, “Credit Union Vs Bank Auto Loan: What’s the Best Choice” https://www.investopedia.com/credit-union-vs-bank-auto-loan-what-s-the-best-choice-7556622

About the author

Becca has over 10 years of experience as a content writer, working across various industries including finance, digital marketing, education, travel, and technology. Her work has been featured in publications including Forbes, Business Insider, AOL, Yahoo, GOBankingRates, and more.

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