What Is Considered Bad Credit in San Rafael, CA?
When you apply for a car loan, mortgage, or another type of loan, California lenders look at your credit score to determine the probability that you'll 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 each San Rafael, CA lender has its own guidelines for what's considered a bad credit score, you might be seen as having bad credit if you have a score below 600. Lenders will also be nervous if you have a history of bankruptcy, foreclosure, or repossession.
Can I Get a Car Loan in San Rafael, CA If I Have Bad Credit?
Many car buyers have asked, “Can I get a car loan with a credit score of 600 or less?” Yes, you can. However, it's going to be harder to finance a car with bad credit in San Rafael, CA. For starters, not all lenders are willing to give a loan to someone with no or poor credit, so you may need to put in extra effort to find a lender willing to work with you. Luckily, myAutoloan partners with lenders specializing in bad credit car loans.
When you find a lender in California, you may see that your low credit score affects your loan. A poor credit score might limit your borrowing and lead to higher interest rates. This high interest rate will lead to larger monthly payments and total repayment. Tools like our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your San Rafael loan might be before completing an application.
Do your potential interest rate and monthly payment have you sweating? You may want to look into raising your credit score before you apply for San Rafael, California car 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 San Rafael, CA
A bad credit score can raise the rate on your car loan, making it more crucial than ever to compare lending options and find the right deal in San Rafael, CA. myAutoloan wants to help you find the best loan — regardless of your credit history. All you have to do is select your offer type and complete our secure, confidential application. We'll show you up to four loans at once, allowing you to compare rates in minutes. Finally, you can select the best loan for you and head down to your go-to dealership in San Rafael with money in hand.
Need a new ride? Bad credit doesn't have to get in the way. Apply now and compare up to four bad credit auto loans in San Rafael, CA through myAutoloan!