What Car Loan Rate Can You Get With a 600 Credit Score?
A 600 credit score is in the subprime range, with car loan rates of 14%–19%. Here's what to expect and how to get the best rate available.
A 600 credit score is in the subprime range — not the worst, but well below prime. In Canada, you can expect car loan rates of 14% to 19% with a 600 score. The good news: you're close to the near-prime threshold, and a small score improvement can save you a lot.
What Rate to Expect With a 600 Credit Score
| Loan Amount | Term | Rate | Monthly Payment | Total Interest |
|---|---|---|---|---|
| $20,000 | 60mo | 16% | $486 | $9,160 |
| $25,000 | 60mo | 17% | $621 | $12,260 |
| $30,000 | 72mo | 18% | $688 | $19,536 |
How a 600 Score Compares
| Score | Rate | Payment on $25k/60mo |
|---|---|---|
| 500 | 26% | $745 |
| 550 | 22% | $693 |
| 600 | 16% | $608 |
| 650 | 12% | $556 |
| 700+ | 8% | $507 |
Moving from 600 to 650 saves about $52/month and $3,100 over the loan term.
How to Get the Best Rate With a 600 Score
- Make a 15–20% down payment — Reduces the lender's risk and may lower your rate by 1–2 points
- Choose a 48–60 month term — Shorter terms get better rates
- Buy a vehicle under 5 years old — Newer used vehicles qualify for better rates
- Show stable income — 6+ months at the same employer
- Consider a co-signer — A co-signer with 700+ credit can get you 9–12% instead
How to Improve From 600 to 650
A 50-point improvement can move you from subprime to near-prime, saving thousands:
- Pay down credit card balances — Keep utilization under 30% of your limit
- Make every payment on time — Payment history is 35% of your score
- Don't apply for new credit — Each application causes a hard inquiry
- Check your credit report for errors — Dispute any inaccuracies
- Keep old accounts open — Account age helps your score
Improving from 600 to 650 can take 3–6 months of consistent effort.
Refinancing From a 600 Score
If you get a loan at 17% now and improve your score to 680+ over 12–18 months, you can refinance at 10–12%. On a $20,000 balance, that saves about $70/month and $2,800 over the remaining term.
The Bottom Line
A 600 credit score means rates of 14–19%, but you're close to a better tier. A 50-point improvement can save you thousands. Get pre-qualified to see your actual rate, and use our Credit Score & Rate Tool to track your progress.
See also: 550 credit score rates, 650 credit score rates, and bad credit car loan rates.
Frequently asked questions
What car loan rate can I get with a 600 credit score? A 600 score is subprime in Canada, with typical car loan rates of about 14% to 19%.
How much should I put down with a 600 credit score? A down payment of 15% to 20% reduces the lender's risk and can help you get a better rate.
How can I get from 600 to 650? Make every payment on time, keep credit card balances well below their limits and avoid applying for new credit while your score recovers.
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