How Do I Know If I Have Bad Credit in Prescott, AZ?
When you borrow money — like a car loan — lenders in Arizona look at your credit score to figure out the probability that you'll repay it. Many factors go 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 Prescott, AZ will have its own guidelines for what it deems a poor credit score, you could be seen as having bad credit if your score falls below 600. Lenders will also be wary if you have a history of bankruptcy, foreclosure, or repossession.
Can I Still Get a Car Loan in Prescott, AZ with Low Credit?
Many borrowers have asked, “Can I get a car loan with a credit score of 600 or less?” Yes, you can. Still, you'll likely face some challenges financing a car with bad credit in Prescott, AZ. Most notably, not every lender offers poor or no credit loans, so you may need to put in extra effort to find a lender who will help with your financing. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
Once you've found a lender in Arizona, you may see that your low credit score changes your loan. A poor credit score can result in limited borrowing and higher interest rates. High interest rates also mean higher monthly payments and more spent over the life of the loan. With our Interest Rate Estimator and Payment Calculator, you can see what the monthly payment on your Prescott loan might look like before you apply.
Concerned about your possible interest rate and monthly payment? You should think about boosting your credit score before applying for auto loans in Prescott, 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 in Prescott, AZ for Bad Credit Car Loans
A poor credit score can raise your car loan rate, making it more important than ever to compare lenders in Prescott, AZ and find the right deal. myAutoloan is here to help you find the best loan — even without the best credit history. All you have to do is choose your offer type and complete our secure, confidential application. We'll show you up to four loans in minutes so you can easily compare rates. To finish, you can choose the best loan for you and visit any dealership in Prescott with a loan in hand.
Need a new ride? Your poor credit doesn’t have to stop you. Apply through myAutoloan now and review up to four Prescott, AZ bad credit car loans!