What Is Considered Bad Credit in Burlingame, CA?
When you borrow money — like a car loan — California lenders use your credit score to determine the chances of you repaying 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 every Burlingame, CA lender has its own guidelines for what’s considered a poor credit score, you could be seen as having bad credit if your score is lower than 600. Lenders will also be more cautious if you have a history of bankruptcy, foreclosure, or repossession.
Can I Still Get a Car Loan in Burlingame, CA 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. However, you'll likely face some challenges financing a car with bad credit in Burlingame, CA. First off, not every lender offers poor or no credit loans, so you may need to spend some extra time finding a lender who will work with you. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
Once you find a lender in California, you may learn your low credit score affects your loan. You may have limited borrowing power and a higher interest rate due to your poor credit score. This high interest rate will also 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 Burlingame loan might be before filling out an application.
Concerned about your possible interest rate and monthly payment? You might want to consider improving your credit score before you apply for Burlingame, California car loans. Take a look at our Guide to Better Credit for Auto Financing for information about credit scores and tips for quickly raising yours.
Find the Best Deal in Burlingame, CA for Bad Credit Car Loans
A poor credit score can increase the rate on your car loan, making it more important than ever to compare lenders in Burlingame, CA and find the right deal. At myAutoloan, we want to help you find the best loan — regardless of your credit history. All you have to do is choose your offer type and complete a confidential, secure application. We'll show you up to four loans in minutes so you can easily compare rates. After, you can select the best loan for you and head down to your go-to dealership in Burlingame 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 Burlingame, CA through myAutoloan!