Here are some things to keep in mind if you're trying to get a car loan with a credit score of 623:
1. You may need a larger down payment. Lenders will often require a larger down payment from borrowers with lower credit scores. This is because they're seen as a higher risk of defaulting on the loan.
2. Your interest rate will likely be higher. Lenders also charge higher interest rates to borrowers with lower credit scores. This is because they're seen as a higher risk of defaulting on the loan and not paying the interest back.
3. You may have to pay more in fees. Lenders may charge more fees to borrowers with lower credit scores. These fees can include things like application fees, origination fees, and prepayment penalties.
4. You may have to get a co-signer. If you have a low credit score, you may need to get a co-signer to help you get a car loan. A co-signer is someone who agrees to take on the debt if you default on the loan.
If you're able to get a car loan with a credit score of 623, it's important to make sure that you can afford the monthly payments. You should also make sure that you're aware of all the terms of the loan before you sign anything.
