What Counts as Bad Credit in Dothan, AL?
When you apply for a car loan, mortgage, or another type of loan, lenders in Alabama use your credit score to determine the chances of you repaying it. Many factors influence your credit score, including any remaining loan balances, your repayment history, the number of open accounts you have, and the age of your credit accounts. While each lender in Dothan, AL has its own criteria for what’s considered a poor credit score, you might be seen as having bad credit if your score is less than 600. Lenders will also be wary if you’ve experienced bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Dothan, AL with Low Credit?
You’re not the first car buyer asking, “Can I get a car loan with a credit score of 600 or less?” The short answer? Yes. Still, it's going to be harder to finance a car with bad credit in Dothan, AL. Most notably, not every lender offers poor or no credit loans, so you may need to put in some extra hours to find a lender inclined to work with you. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
Once you've chosen a lender in Alabama, you may discover your low credit score impacts your loan. A poor credit score might limit your borrowing and lead to higher interest rates. Higher interest rates will mean larger monthly payments and overall loan costs. Tools like our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Dothan loan might be before even applying.
Concerned about your possible interest rate and monthly payment? You might want to look into raising your credit score before you apply for Dothan, Alabama car loans. Take a look at our Guide to Better Credit for Auto Financing to learn about credit scores and how you can quickly raise yours.
Find the Best Deal on Dothan, AL Poor Credit Car Loans
A low credit score can increase the rate on your car loan, making it more critical than ever to compare lending options and find the right deal in Dothan, AL. myAutoloan is here to help you find the best loan — regardless of your credit history. All you have to do is select your offer type and complete or confidential and secure application. You'll see up to four loans at once so you can compare rates in minutes. Then, you can select the right loan for you and head to your favorite Dothan dealership with a loan in hand.
Need a new ride? Bad credit doesn't have to stop you. Apply today through myAutoloan and compare up to four Dothan, AL bad credit auto loans!