What Is Considered Bad Credit in Cullman, AL?
When you try to borrow money — like a car loan — Alabama lenders look at your credit score to figure out how likely you are to repay it. Many factors go into your credit score, including the age of your credit accounts, the number of open accounts you have, any remaining loan balances, and your repayment history. While each Cullman, AL lender will have its own guidelines for what’s considered a poor credit score, you could be seen as having bad credit if your score is less than 600. Lenders will also be worried if you've gone through bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Cullman, AL with Low Credit?
Many car buyers have asked, “Can I get a car loan with a credit score of 600 or less?” Yes, you can. But, financing a car in Cullman, AL with bad credit won't necessarily be easy. For starters, not every lender is willing to give a loan to someone with poor or no credit, so it may take some extra time to find a lender inclined to work with you. The good news is that myAutoloan partners with lenders specializing in bad credit loans.
Once you find a lender in Alabama, you may learn your loan is impacted by your low credit score. You may have limited borrowing power and a higher interest rate due to your poor credit score. This high interest rate will lead to larger monthly payments and more spent over the life of the loan. Our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Cullman loan might look like before filling out an application.
Concerned about your possible interest rate and monthly payment? You may want to contemplate increasing your credit score before applying for Cullman, Alabama auto loans. View our Guide to Better Credit for Auto Financing to better understand your credit score and how you can raise it.
Find the Best Deal on Poor Credit Car Loans in Cullman, AL
A poor credit score can raise the rate on your car loan, so it's more critical than ever to compare costs and find the right loan in Cullman, AL. myAutoloan wants to make sure you find the best loan — no matter your credit history. All you have to do is choose your offer type and fill out our secure, confidential application. We’ll show you up to four loans at a time so you can compare rates in minutes. After, you can select the best loan for you and head to your favorite Cullman dealership with a check in hand.
Why wait to get a new ride? Your poor credit doesn’t have to stop you. Apply with myAutoloan today and compare up to four bad credit auto loans in Cullman, AL!