What Is Considered Bad Credit in Plantation, FL?
When you borrow money — like a car loan — lenders in Florida use your credit score to evaluate how likely you are to repay it. Your credit score is calculated using many factors, including the number of open accounts you have, your repayment history, the age of your credit accounts, and any remaining loan balances. While every lender in Plantation, FL has its own criteria for what's considered a bad credit score, you could be seen as having bad credit if your score is less than 600. Lenders will also be more cautious if you have a history of bankruptcy, foreclosure, or repossession.
Is it Possible to Get a Car Loan in Plantation, 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 is yes. However, you'll likely face some challenges financing a car with bad credit in Plantation, FL. First off, not every lender is willing to give a loan to someone with poor or no credit, 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.
When you find a lender in Florida, you may discover your low credit score affects your loan. A poor credit score can result in limited borrowing and higher interest rates. This high interest rate will 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 Plantation loan might look like before even applying.
Do your potential interest rate and monthly payment have you worried? You may want to look into increasing your credit score before you apply for Plantation, Florida 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 Plantation, FL
A bad credit score can raise your car loan rate, making it more critical than ever to compare lenders in Plantation, FL and find the right deal. myAutoloan wants to help you find the best loan — even without the best credit history. All you need to do is select your offer type and complete or confidential and secure application. We'll show you up to four loans in minutes so you can easily compare rates. Then, you can select the right loan for you and head to your favorite Plantation dealership with cash in hand.
Need a new ride? Bad credit doesn't have to get in the way. Apply through myAutoloan now and review up to four Plantation, FL bad credit car loans!