What Is Considered Bad Credit in Surprise, AZ?
When you borrow money — like a car loan — Arizona lenders look at your credit score to figure out the probability that you'll repay it. Many factors go into your credit score, including the number of open accounts you have, your repayment history, the age of your credit accounts, and any remaining loan balances. While each Surprise, AZ lender has its own criteria for what it considers a poor credit score, you might be seen as having bad credit if your score is lower than 600. Lenders will also be nervous if you've gone through bankruptcy, repossession, or foreclosure.
Can I Get a Car Loan in Surprise, AZ If I Have Bad Credit?
Many borrowers have asked, “Can I get a car loan with a credit score of 600 or less?” The short answer is yes. Keep in mind, you'll likely face some challenges financing a car with bad credit in Surprise, AZ. First off, not every lender feels comfortable giving loans to people with poor or no credit, so it may take some extra time 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 learn your low credit score impacts your loan. A poor credit score might limit your borrowing and lead to higher interest rates. Higher interest rates will mean higher monthly payments and total repayment. Our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Surprise loan could look like before filling out an application.
Concerned about your possible interest rate and monthly payment? You may want to consider raising your credit score before applying for Surprise, Arizona auto loans. Take a look at our Guide to Better Credit for Auto Financing for information about credit scores and tips for quickly raising yours.
Find the Best Deal in Surprise, AZ for Bad Credit Car Loans
A bad credit score can raise the rate on your car loan, making it more important than ever to compare lenders in Surprise, AZ and find the right deal. myAutoloan wants to help you find the best loan — no matter your credit history. All you have to do is choose your offer type and complete or confidential and secure application. We’ll show you up to four loans at a time so you can compare rates in minutes. Then, you can select the best loan for you and head to your favorite Surprise dealership with a check in hand.
Need a new ride? Poor credit shouldn't stop you. Apply through myAutoloan now and review up to four Surprise, AZ bad credit car loans!