How Do I Know If I Have Bad Credit in Clearwater, FL?
When you borrow money — like a car loan — lenders in Florida look at your credit score to decide 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 Clearwater, FL lender has its own benchmarks 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 experienced bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Clearwater, FL with Bad Credit?
You’re not the first car buyer asking, “Can I get a car loan with a credit score of 600 or less?” The short answer? Yes. However, you'll likely face some challenges financing a car with bad credit in Clearwater, FL. For starters, not all lenders are willing to give a loan to someone with no or poor credit, so you may need to put in extra effort to find a lender willing to work with you. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
Once you've chosen a lender in Florida, you may see that your low credit score affects your loan. A poor credit score can result in limited borrowing and higher interest rates. Higher interest rates will mean higher monthly payments and overall repayment. With our Interest Rate Estimator and Payment Calculator, you can see what the monthly payment on your Clearwater loan could look like before completing an application.
Do your potential interest rate and monthly payment have you sweating? You should consider raising your credit score before you start applying for auto loans in Clearwater, Florida. View 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 Poor Credit Car Loans in Clearwater, FL
A poor credit score can raise the rate on your car loan, making it more critical than ever to compare lenders in Clearwater, FL and find the right deal. myAutoloan wants to make sure you find the best loan — regardless of your credit history. All you have to do is choose your offer type and complete a confidential, secure application. You'll see up to four loans at once so you can compare rates in minutes. After, you can select the loan that looks best to you and head to your local Clearwater dealership with cash in hand.
Ready to purchase your next ride? Your poor credit doesn’t have to stop you. Apply today through myAutoloan and compare up to four Clearwater, FL bad credit auto loans!