Do I Have Bad Credit in Jonesboro, AR?
When you apply for a car loan, mortgage, or another type of loan, Arkansas lenders use your credit score to evaluate the probability that you'll repay it. Many factors go into your credit score, including the age of your credit accounts, the number of open accounts you have, any remaining loan balances, and your repayment history. While every lender in Jonesboro, AR has its own criteria for what's considered a bad credit score, you might be seen as having bad credit if you have a score below 600. Lenders will also be wary if you've gone through bankruptcy, repossession, or foreclosure.
Is it Possible to Get a Car Loan in Jonesboro, AR with 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, you'll likely face some challenges financing a car with bad credit in Jonesboro, AR. Most notably, not all lenders are willing to give a loan to someone with no or poor credit, so you may need to spend some extra time finding a lender willing to work with you. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
When you find a lender in Arkansas, you may learn your loan is impacted by your low credit score. A poor credit score can result in limited borrowing and higher interest rates. Higher interest rates will 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 Jonesboro loan could look like before filling out an application.
Worried about your potential interest rate and monthly payment? You may want to contemplate improving your credit score before applying for auto loans in Jonesboro, Arkansas. View 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 Jonesboro, AR Poor Credit Car Loans
A low credit score can increase your car loan rate, making it more important than ever to compare lenders in Jonesboro, AR and find the right deal. myAutoloan wants to make sure you find the best loan — regardless of your credit history. All you have to do is select your offer type and fill out our secure, confidential application. We'll show you up to four loans at once, allowing you to compare rates in minutes. To finish, you can choose the best loan for you and head to your local Jonesboro dealership with cash in hand.
Need a new ride? Poor credit shouldn't stop you. Apply now and compare up to four bad credit auto loans in Jonesboro, AR through myAutoloan!