What Counts as Bad Credit in Santa Ana, CA?
When you try to borrow money — like a car loan — California lenders look at your credit score to decide the chances of you repaying 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 Santa Ana, CA lender has its own benchmarks for what it considers a poor credit score, you could be seen as having bad credit if your score is lower than 600. Lenders will also be wary if you've experienced repossession, bankruptcy, or foreclosure.
Is it Possible to Get a Car Loan in Santa Ana, CA with Bad Credit?
Many borrowers have asked, “Can I get a car loan with a credit score of 600 or less?” Yes, you can. Keep in mind, it's going to be harder to finance a car with bad credit in Santa Ana, CA. Most notably, not all lenders are willing to give a loan to someone with no or poor credit, so you may need to spend some extra time finding a lender who will help with your financing. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
Once you've chosen a lender in California, you may learn your low credit score impacts your loan. A poor credit score can result in limited borrowing and higher interest rates. This high interest rate will also mean higher monthly payments and overall repayment. Tools like our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Santa Ana loan might look like before filling out an application.
Worried about your potential interest rate and monthly payment? You should think about improving your credit score before you start applying for auto loans in Santa Ana, California. Study our Guide to Better Credit for Auto Financing for information about credit scores and tips for quickly raising yours.
Find the Best Deal on Poor Credit Car Loans in Santa Ana, CA
A low credit score can raise the rate on your car loan, making it more important than ever to compare lenders in Santa Ana, CA and find the right deal. myAutoloan is here to help you find the best loan — even without the best credit history. Simply 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. To finish, you can select the right loan for you and visit any dealership in Santa Ana with cash in hand.
Why wait to get a new ride? Poor credit shouldn't stop you. Apply today through myAutoloan and compare up to four Santa Ana, CA bad credit auto loans!