Do I Have Bad Credit in Woodland Hills, CA?
When you try to borrow money — like a car loan — lenders in California look at 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 lender in Woodland Hills, CA has its own criteria for what’s considered a poor credit score, you are often seen as having bad credit if your score falls below 600. Lenders will also be wary if you've gone through bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Woodland Hills, CA with Low 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. However, financing a car in Woodland Hills, CA with bad credit won't necessarily be easy. Most notably, not every lender offers poor or no credit loans, so it may take some extra time to find a lender who will help with your financing. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
Once you find a lender in California, you may notice your low credit score impacts your loan. A poor credit score can limit your borrowing and result in higher interest rates. This high interest rate will also mean higher monthly payments and overall loan costs. Our Interest Rate Estimator and Payment Calculator can help you see an estimate for the monthly payment on your Woodland Hills loan before you apply.
Worried about your potential interest rate and monthly payment? You should think about improving your credit score before applying for auto loans in Woodland Hills, California. 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 in Woodland Hills, CA for Bad Credit Car Loans
A low credit score can increase your car loan rate, making it more crucial than ever to compare costs to find the right deal in Woodland Hills, CA. At myAutoloan, we want to help you find the best loan — despite your 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 at once, allowing you to compare rates in minutes. Finally, you can select the loan that looks best to you and head to your local Woodland Hills dealership with money in hand.
Ready to purchase your next ride? Poor credit shouldn't stop you. Apply through myAutoloan now and review up to four Woodland Hills, CA bad credit car loans!