How Do I Know If I Have Bad Credit in Tuscaloosa, AL?
When you try to borrow money — like a car loan — Alabama lenders use your credit score to evaluate how likely you are to repay it. Many factors play into your credit score, including your repayment history, the number of accounts you have open, the age of your credit accounts, and any remaining loan balances. While each lender in Tuscaloosa, AL has its own guidelines for what’s considered a poor credit score, you are often seen as having bad credit if you have a score below 600. Lenders will also be nervous if you've experienced repossession, bankruptcy, or foreclosure.
Can I Still Get a Car Loan in Tuscaloosa, 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. Still, it's going to be harder to finance a car with bad credit in Tuscaloosa, AL. Most notably, not every lender is willing to give a loan to someone with poor or no credit, so you may need to spend some extra time finding a lender willing to work with you. Luckily, myAutoloan partners with lenders specializing in bad credit car loans.
When you find a lender in Alabama, you may discover your low credit score changes your loan. You may have limited borrowing power and a higher interest rate due to your poor credit score. Higher interest rates will mean higher monthly payments and more spent over the life of the loan. Tools like our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Tuscaloosa loan might look like before you apply.
Worried about your potential interest rate and monthly payment? You may want to contemplate boosting your credit score before you start applying for auto loans in Tuscaloosa, Alabama. Take a look at 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 Bad Credit Car Loans in Tuscaloosa, AL
A poor credit score can increase your car loan rate, making it more important than ever to compare costs and find the right loan in Tuscaloosa, AL. At myAutoloan, we want to help you find the best loan — despite your credit history. All you have 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 select the best loan for you and head down to your go-to dealership in Tuscaloosa with a check in hand.
Need a new ride? Your poor credit doesn’t have to stop you. Apply through myAutoloan now and review up to four Tuscaloosa, AL bad credit car loans!