Do I Have Bad Credit in Gilbert, AZ?
When you apply for any type of loan, Arizona lenders use your credit score to determine the probability that you'll repay it. Your credit score is calculated using many factors, including any remaining loan balances, your repayment history, the number of open accounts you have, and the age of your credit accounts. While each Gilbert, AZ lender has its own criteria for what’s considered a poor credit score, you could be seen as having bad credit if your score is lower than 600. Lenders will also be nervous if you’ve experienced bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Gilbert, AZ with Low Credit?
You're not the first car buyer to wonder, “Can I get a car loan with a credit score of 600 or less?” The short answer is yes. Still, you'll likely face some challenges financing a car with bad credit in Gilbert, AZ. For starters, not every lender is willing to give a loan to someone with poor or no credit, so you may need to put in extra effort to find a lender who will help with your financing. Luckily, myAutoloan partners with lenders specializing in bad credit car loans.
Once you've chosen a lender in Arizona, you may learn your low credit score affects your loan. You may have limited borrowing power and a higher interest rate due to your poor credit score. High interest rates also mean higher monthly payments and total repayment. Our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Gilbert loan could look like before even applying.
Worried about your potential interest rate and monthly payment? You may want to consider improving your credit score before you start applying for auto loans in Gilbert, Arizona. Study 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 Bad Credit Car Loans in Gilbert, AZ
A poor credit score can raise your car loan rate, making it more crucial than ever to compare lending options and find the right deal in Gilbert, AZ. myAutoloan wants to help you find the best loan — even without the best credit history. All you have 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. Then, you can select the loan that looks best to you and head to your local Gilbert dealership with a check in hand.
Ready to purchase your next ride? Bad credit doesn't have to stop you. Apply through myAutoloan now and review up to four Gilbert, AZ bad credit car loans!