Do I Have Bad Credit in Mission Viejo, CA?
When you apply for a car loan, mortgage, or another type of loan, California lenders look at your credit score to decide how likely you are to repay it. Your credit score is calculated using many factors, including any remaining loan balances, your repayment history, the number of open accounts you have, and the age of your credit accounts. While every lender in Mission Viejo, CA has its own benchmarks for what's considered a low credit score, you could be seen as having bad credit if your score sits under the 600 benchmark. Lenders will also be nervous if you’ve experienced bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Mission Viejo, CA with Bad Credit?
Many borrowers have asked, “Can I get a car loan with a credit score of 600 or less?” The short answer is yes. However, financing a car with bad credit in Mission Viejo, CA will come with some challenges. For starters, not every lender feels comfortable giving loans to people with poor or no credit, so you may need to spend some extra time finding a lender who will help with your financing. Luckily, myAutoloan partners with lenders specializing in bad credit car loans.
Once you've chosen a lender in California, you may learn your low credit score changes your loan. A poor credit score can limit your borrowing and result in higher interest rates. This high interest rate will also mean higher monthly payments and total repayment. With our Interest Rate Estimator and Payment Calculator, you can see what the monthly payment on your Mission Viejo loan might look like before even applying.
Worried about your potential interest rate and monthly payment? You should think about raising your credit score before applying for auto loans in Mission Viejo, California. Check out our Guide to Better Credit for Auto Financing to better understand your credit score and how you can raise it.
Find the Best Deal in Mission Viejo, CA for Bad Credit Car Loans
A bad credit score can increase your car loan rate, making it more important than ever to compare costs and find the right loan in Mission Viejo, CA. myAutoloan wants to help you find the best loan — despite your credit history. All you have to do is choose your offer type and complete or confidential and secure application. We'll show you up to four loans in minutes so you can easily compare rates. After, you can select the right loan for you and head down to your go-to dealership in Mission Viejo with a loan in hand.
Ready to purchase a new ride? Bad credit doesn't have to stop you. Apply with myAutoloan today and compare up to four bad credit auto loans in Mission Viejo, CA!