What Counts as Bad Credit in Berkeley, CA?
When you apply for a car loan, mortgage, or another type of loan, California lenders look at your credit score to determine how likely you are to repay 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 Berkeley, CA has its own guidelines for what it deems a poor credit score, you may be seen as having bad credit if your score sits under the 600 benchmark. Lenders will also be more cautious if you’ve experienced bankruptcy, repossession, or foreclosure.
Can I Get a Car Loan in Berkeley, CA 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? Yes. But, financing a car with bad credit in Berkeley, CA will come with some challenges. First off, not every lender offers poor or no credit loans, so you may need to spend some extra time finding a lender inclined to work with you. 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 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 more spent over the life of the loan. Our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Berkeley loan could look like before filling out an application.
Do your potential interest rate and monthly payment have you sweating? You might want to look into boosting your credit score before applying for Berkeley, California auto loans. 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 Berkeley, CA
A poor credit score can raise the rate on your car loan, making it more important than ever to compare lending options and find the right deal in Berkeley, CA. myAutoloan wants to make sure you find the best loan — despite your credit history. All you have to do is choose your offer type and complete our secure, confidential application. We'll show you up to four loans in minutes so you can easily compare rates. Finally, you can select the best loan for you and head to your favorite Berkeley dealership with cash in hand.
Need a new ride? Poor credit shouldn't stop you. Apply with myAutoloan today and compare up to four bad credit auto loans in Berkeley, CA!