How Do I Know If I Have Bad Credit in Temecula, CA?
When you apply for a car loan, mortgage, or another type of loan, California lenders use your credit score to decide how likely you are to repay it. Many factors go into your credit score, including your repayment history, the number of accounts you have open, the age of your credit accounts, and any remaining loan balances. While each Temecula, CA lender has its own guidelines for what it considers a poor credit score, you are often seen as having bad credit if your score is less than 600. Lenders will also be wary if you have a history of bankruptcy, foreclosure, or repossession.
Can I Still Get a Car Loan in Temecula, 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. Still, you'll likely face some challenges financing a car with bad credit in Temecula, CA. Most notably, not every lender feels comfortable giving loans to people with poor or no credit, so you may need to put in some extra hours to find a lender willing to work with you. The good news is that myAutoloan partners with lenders specializing in bad credit loans.
Once you find a lender in California, you may notice your low credit score changes your loan. A poor credit score can limit your borrowing and result in higher interest rates. High interest rates also mean higher monthly payments and more spent over the life of the loan. Our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Temecula loan could look like before filling out an application.
Worried about your potential interest rate and monthly payment? You may want to consider increasing your credit score before you apply for Temecula, California car loans. Take a look at our Guide to Better Credit for Auto Financing to better understand your credit score and how you can raise it.
Find the Best Deal on Poor Credit Car Loans in Temecula, CA
A poor credit score can increase your car loan rate, making it more important than ever to compare lending options and find the right deal in Temecula, CA. At myAutoloan, we want to help you find the best loan — even without the best credit history. Simply choose your offer type and fill out 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 to your local Temecula dealership with a loan 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 Temecula, CA!