How Do I Know If I Have Bad Credit in Bakersfield, CA?
When you apply for a car loan, mortgage, or another type of loan, lenders in California look at your credit score to determine the probability that you'll repay it. Many factors play into your credit score, including any remaining loan balances, your repayment history, the number of open accounts you have, and the age of your credit accounts. While each lender in Bakersfield, CA has its own guidelines for what it considers a poor credit score, you may be seen as having bad credit if your score is lower than 600. Lenders will also be wary if you've gone through bankruptcy, repossession, or foreclosure.
Is it Possible to Get a Car Loan in Bakersfield, CA with Bad Credit?
Many car buyers have asked, “Can I get a car loan with a credit score of 600 or less?” The short answer is yes. Keep in mind, financing a car with bad credit in Bakersfield, CA will come with some challenges. For starters, 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. The good news is that myAutoloan partners with lenders specializing in bad credit loans.
Once you've chosen a lender in California, you may discover your loan is impacted by your low credit score. A poor credit score can result in limited borrowing and higher interest rates. High interest rates also mean larger monthly payments and overall loan costs. Our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Bakersfield loan might be before completing an application.
Concerned about your possible interest rate and monthly payment? You might want to contemplate increasing your credit score before applying for auto loans in Bakersfield, California. Take a look at our Guide to Better Credit for Auto Financing for help understanding and quickly raising 7our credit.
Find the Best Deal in Bakersfield, CA for Bad Credit Car Loans
A poor credit score can raise the rate on your car loan, making it more important than ever to compare costs and find the right loan in Bakersfield, CA. myAutoloan wants to make sure you find the best loan — despite your credit history. Simply choose your offer type and complete a confidential, secure application. We'll show you up to four loans at once, allowing you to compare rates in minutes. Then, you can choose the best loan for you and head down to your go-to dealership in Bakersfield with a check in hand.
Ready to purchase a new ride? Poor credit shouldn't stop you. Apply today through myAutoloan and compare up to four Bakersfield, CA bad credit auto loans!