What Is Considered Bad Credit in Santa Rosa, CA?
When you borrow money — like a car loan — California lenders use your credit score to determine 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 each lender in Santa Rosa, CA has its own benchmarks for what's considered a bad credit score, you are often 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 Santa Rosa, CA If I Have 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 short answer is yes. Keep in mind, financing a car in Santa Rosa, CA with bad credit won't necessarily be easy. Most notably, not all lenders are willing to give a loan to someone with no or poor credit, so it may take some extra time to find a lender willing to work with you. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
Once you've found a lender in California, you may discover your low credit score affects your loan. A poor credit score can limit your borrowing and result in higher interest rates. This high interest rate will lead to higher monthly payments and more spent over the life of the loan. Our Interest Rate Estimator and Payment Calculator can help you see an estimate for the monthly payment on your Santa Rosa loan before filling out an application.
Do your potential interest rate and monthly payment have you sweating? You should contemplate raising your credit score before you apply for Santa Rosa, 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 in Santa Rosa, CA for Bad Credit Car Loans
A low credit score can increase the rate on your car loan, so it's more critical than ever to compare costs to find the right deal in Santa Rosa, CA. At myAutoloan, we want to help you find the best loan — no matter your credit history. Simply choose your offer type and fill out our secure, confidential application. We'll show you up to four loans in minutes so you can easily compare rates. To finish, you can choose the best loan for you and head to your favorite Santa Rosa dealership with cash in hand.
Why wait to get a new ride? Poor credit shouldn't stop you. Apply with myAutoloan today and compare up to four bad credit auto loans in Santa Rosa, CA!