Do I Have Bad Credit in West Covina, CA?
When you borrow money — like a car loan — California lenders use your credit score to figure out the probability that you'll 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 West Covina, CA lender will have its own guidelines for what's considered a bad credit score, you are often seen as having bad credit if your score is less than 600. Lenders will also be more cautious if you’ve experienced bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in West Covina, CA with Bad Credit?
Many car buyers have asked, “Can I get a car loan with a credit score of 600 or less?” The simple answer is yes. However, financing a car in West Covina, CA with bad credit won't necessarily be easy. 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 willing to work with you. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
When you find a lender in California, you may notice your low credit score changes your loan. A poor credit score can result in limited borrowing and higher interest rates. High interest rates also mean higher monthly payments and overall repayment. Our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your West Covina loan might be before you apply.
Worried about your potential interest rate and monthly payment? You might want to think about increasing your credit score before applying for auto loans in West Covina, California. Study our Guide to Better Credit for Auto Financing to learn about credit scores and how you can quickly raise yours.
Find the Best Deal on Bad Credit Car Loans in West Covina, CA
A poor credit score can raise the rate on your car loan, so it's more critical than ever to compare lending options and find the right deal in West Covina, CA. myAutoloan wants to make sure you find the best loan — even without the best credit history. All you have to do is 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. Then, you can choose the best loan for you and head down to your go-to dealership in West Covina with money in hand.
Ready to purchase your next ride? Bad credit doesn't have to stop you. Apply with myAutoloan today and compare up to four bad credit auto loans in West Covina, CA!