What Is Considered Bad Credit in Yuma, AZ?
When you apply for any type of loan, Arizona lenders use your credit score to figure out the chances of you repaying it. Your credit score is calculated using many factors, 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 Yuma, AZ has its own criteria for what's considered a low credit score, you might be seen as having bad credit if you have a score below 600. Lenders will also be nervous if you've gone through bankruptcy, repossession, or foreclosure.
Can I Get a Car Loan in Yuma, AZ If I Have Bad Credit?
Many car buyers have asked, “Can I get a car loan with a credit score of 600 or less?” The simple answer is yes. Still, it's going to be harder to finance a car with bad credit in Yuma, AZ. 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 work with you. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
Once you've chosen a lender in Arizona, you may notice your low credit score affects your loan. A poor credit score might limit your borrowing and lead to higher interest rates. This high interest rate will also mean higher monthly payments and overall loan costs. Tools like our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Yuma loan might look like before you apply.
Do your potential interest rate and monthly payment have you sweating? You might want to contemplate improving your credit score before you start applying for auto loans in Yuma, Arizona. Take a look at our Guide to Better Credit for Auto Financing for help understanding and quickly raising 7our credit.
Find the Best Deal on Poor Credit Car Loans in Yuma, AZ
A low credit score can increase your car loan rate, making it more important than ever to compare costs to find the right deal in Yuma, AZ. myAutoloan is here to help you find the best loan — no matter your credit history. Simply choose your offer type and fill out our secure, confidential application. You'll see up to four loans at once so you can compare rates in minutes. Finally, you can choose the best loan for you and head to your favorite Yuma dealership with a check in hand.
Why wait to get a new ride? Poor credit shouldn't stop you. Apply now and compare up to four bad credit auto loans in Yuma, AZ through myAutoloan!