What Counts as Bad Credit in Russellville, AR?
When you borrow money — like a car loan — lenders in Arkansas use your credit score to figure out the likelihood of you repaying it. Many factors influence 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 every lender in Russellville, AR will have its own guidelines for what it deems a poor credit score, you are often seen as having bad credit if your score falls below 600. Lenders will also be nervous if you've gone through bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Russellville, AR with Bad Credit?
Many borrowers have asked, “Can I get a car loan with a credit score of 600 or less?” The simple answer is yes. Keep in mind, you'll likely face some challenges financing a car with bad credit in Russellville, AR. To begin with, not every lender feels comfortable giving loans to people with poor or no credit, so you may need to put in some extra hours to find a lender who will help with your financing. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
Once you've found a lender in Arkansas, you may notice your low credit score impacts your loan. A poor credit score can result in limited borrowing and higher interest rates. Higher interest rates will mean higher monthly payments and overall repayment. Our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Russellville loan might look like before you apply.
Do your potential interest rate and monthly payment have you worried? You may want to look into improving your credit score before you start applying for auto loans in Russellville, Arkansas. Check out our Guide to Better Credit for Auto Financing for help understanding and quickly raising 7our credit.
Find the Best Deal in Russellville, AR for Bad Credit Car Loans
A bad credit score can raise the rate on your car loan, making it more crucial than ever to compare lending options and find the right deal in Russellville, AR. myAutoloan is here to help you find the best loan — regardless of your credit history. All you need to do is select your offer type and complete our secure, confidential application. We'll show you up to four loans at once, allowing you to compare rates in minutes. Then, you can select the right loan for you and head to your local Russellville dealership with cash in hand.
Why wait to get a new ride? Your poor credit doesn’t have to stop you. Apply now and compare up to four bad credit auto loans in Russellville, AR through myAutoloan!