What Counts as Bad Credit in Gardendale, AL?
When you apply for a car loan, mortgage, or another type of loan, lenders in Alabama look at your credit score to decide the probability that you'll repay 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 every lender in Gardendale, AL will have its own guidelines for what it deems a poor credit score, you might be seen as having bad credit if your score sits under the 600 benchmark. Lenders will also be wary if you've experienced repossession, bankruptcy, or foreclosure.
Can I Still Get a Car Loan in Gardendale, 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?” Yes, you can. However, financing a car with bad credit in Gardendale, AL will come with some challenges. First off, not every lender is willing to give a loan to someone with poor or no credit, so you may need to put in some extra hours to find a lender who will help with your financing. The good news is that myAutoloan partners with lenders specializing in bad credit loans.
Once you've chosen a lender in Alabama, you may notice your low credit score changes your loan. You may have limited borrowing power and a higher interest rate due to your poor credit score. This high interest rate will lead to higher monthly payments and overall loan costs. With our Interest Rate Estimator and Payment Calculator, you can see what the monthly payment on your Gardendale loan might be before completing an application.
Concerned about your possible interest rate and monthly payment? You may want to contemplate increasing your credit score before applying for auto loans in Gardendale, Alabama. View our Guide to Better Credit for Auto Financing for information about credit scores and tips for quickly raising yours.
Find the Best Deal in Gardendale, AL for Bad Credit Car Loans
A poor credit score can increase your car loan rate, making it more critical than ever to compare costs and find the right loan in Gardendale, AL. myAutoloan wants to help you find the best loan — despite your credit history. All you need to do is select your offer type and complete a confidential, secure application. You'll see up to four loans at once so you can compare rates in minutes. Finally, you can choose the best loan for you and head to your local Gardendale dealership with a loan in hand.
Why wait to get a new ride? Bad credit doesn't have to stop you. Apply through myAutoloan now and review up to four Gardendale, AL bad credit car loans!