What Counts as Bad Credit in Fort Myers, FL?
When you try to borrow money — like a car loan — lenders in Florida look at your credit score to decide the probability that you'll repay it. Many factors go into your credit score, including the number of open accounts you have, your repayment history, the age of your credit accounts, and any remaining loan balances. While each lender in Fort Myers, FL will have its own guidelines for what it deems a poor credit score, you are often seen as having bad credit if your score is lower than 600. Lenders will also be worried if you've experienced repossession, bankruptcy, or foreclosure.
Is it Possible to Get a Car Loan in Fort Myers, 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. Still, you'll likely face some challenges financing a car with bad credit in Fort Myers, FL. First off, 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 inclined to work with you. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
Once you find a lender in Florida, you may learn your low credit score affects your loan. A poor credit score can result in limited borrowing and higher interest rates. High interest rates also mean larger monthly payments and overall repayment. Tools like our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Fort Myers loan might look like before even applying.
Do your potential interest rate and monthly payment have you sweating? You might want to consider raising your credit score before applying for auto loans in Fort Myers, 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 in Fort Myers, FL for Bad Credit Car Loans
A poor credit score can raise your car loan rate, making it more important than ever to compare lending options and find the right deal in Fort Myers, FL. myAutoloan is here to help you find the best loan — no matter 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. After, you can select the loan that looks best to you and head down to your go-to dealership in Fort Myers with money in hand.
Why wait to get a new ride? Your poor credit doesn’t have to stop you. Apply now and compare up to four bad credit auto loans in Fort Myers, FL through myAutoloan!