What Counts as Bad Credit in Huntsville, AL?
When you try to borrow money — like a car loan — Alabama lenders use your credit score to determine how likely you are to repay it. Many factors play into 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 Huntsville, AL lender has its own criteria for what it considers a poor credit score, you are often seen as having bad credit if your score sits under the 600 benchmark. Lenders will also be more cautious if you've experienced repossession, bankruptcy, or foreclosure.
Can I Still Get a Car Loan in Huntsville, AL with Bad Credit?
Many borrowers have asked, “Can I get a car loan with a credit score of 600 or less?” The short answer? Yes. Still, financing a car with bad credit in Huntsville, AL will come with some challenges. To begin with, 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 who will help with your financing. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
Once you find a lender in Alabama, you may learn your low credit score changes your loan. A poor credit score might limit your borrowing and lead to higher interest rates. High interest rates also mean higher monthly payments and overall repayment. Our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Huntsville loan could look like before filling out an application.
Do your potential interest rate and monthly payment have you sweating? You might want to consider improving your credit score before applying for auto loans in Huntsville, Alabama. Study our Guide to Better Credit for Auto Financing for information about credit scores and tips for quickly raising yours.
Find the Best Deal on Huntsville, AL Poor Credit Car Loans
A poor credit score can increase the rate on your car loan, making it more crucial than ever to compare lenders in Huntsville, AL and find the right deal. myAutoloan is here to help you find the best loan — despite your credit history. All you need to do is select your offer type and complete or confidential and secure application. We'll show you up to four loans at once, allowing you to compare rates in minutes. To finish, you can choose the best loan for you and visit any dealership in Huntsville with a loan in hand.
Need a new ride? Poor credit shouldn't stop you. Apply through myAutoloan now and review up to four Huntsville, AL bad credit car loans!