Do I Have Bad Credit in Petaluma, CA?
When you try to borrow money — like a car loan — lenders in California look at your credit score to decide the probability that you'll repay it. Many factors influence 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 Petaluma, CA has its own guidelines for what's considered a bad credit score, you could be seen as having bad credit if your score sits under the 600 benchmark. Lenders will also be wary if you have a history of bankruptcy, foreclosure, or repossession.
Can I Still Get a Car Loan in Petaluma, CA with Bad Credit?
You're not the first car buyer to wonder, “Can I get a car loan with a credit score of 600 or less?” The simple answer is yes. Still, you'll likely face some challenges financing a car with bad credit in Petaluma, CA. For starters, not every lender is willing to give a loan to someone with poor or no credit, so you may need to spend some extra time finding a lender inclined to work with you. Luckily, myAutoloan partners with lenders specializing in bad credit car loans.
Once you find a lender in California, you may discover your low credit score impacts your loan. A poor credit score can limit your borrowing and result in higher interest rates. Higher interest rates will mean larger monthly payments and more spent over the life of the loan. Tools like our Interest Rate Estimator and Payment Calculator can help you see an estimate for the monthly payment on your Petaluma loan before filling out an application.
Concerned about your possible interest rate and monthly payment? You should contemplate increasing your credit score before you apply for Petaluma, California car loans. Check out our Guide to Better Credit for Auto Financing for information about credit scores and tips for quickly raising yours.
Find the Best Deal in Petaluma, CA 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 costs to find the right deal in Petaluma, CA. At myAutoloan, we want to help you find the best loan — regardless of your credit history. Simply choose your offer type and complete a confidential, secure application. We’ll show you up to four loans at a time so you can compare rates in minutes. To finish, you can select the right loan for you and head to your favorite Petaluma dealership with money in hand.
Need a new ride? Bad credit doesn't have to stop you. Apply today through myAutoloan and compare up to four Petaluma, CA bad credit auto loans!