What Counts as Bad Credit in St Augustine, FL?
When you apply for a car loan, mortgage, or another type of loan, Florida lenders look at your credit score to decide the chances of you repaying it. Many factors go into your credit score, 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 St Augustine, FL has its own benchmarks for what's considered a bad credit score, you are often seen as having bad credit if you have a score below 600. Lenders will also be worried if you’ve experienced bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in St Augustine, FL 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? Yes. Keep in mind, financing a car with bad credit in St Augustine, FL will come with some challenges. First off, not every lender is willing to give a loan to someone with poor or no credit, so you may need to put in some extra hours to find a lender who will work with you. The good news is that myAutoloan partners with lenders specializing 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. This high interest rate will lead to higher monthly payments and total repayment. With our Interest Rate Estimator and Payment Calculator, you can see an estimate for the monthly payment on your St Augustine loan before completing an application.
Do your potential interest rate and monthly payment have you worried? You should look into raising your credit score before applying for St Augustine, Florida auto loans. Study our Guide to Better Credit for Auto Financing for help understanding and quickly raising 7our credit.
Find the Best Deal on Poor Credit Car Loans in St Augustine, FL
A low credit score can increase your car loan rate, so it's more critical than ever to compare lenders in St Augustine, FL and find the right deal. myAutoloan wants to help you find the best loan — even without the best credit history. All you have to do is choose your offer type and complete or confidential and secure application. We’ll show you up to four loans at a time so you can compare rates in minutes. To finish, you can select the loan that looks best to you and head to your favorite St Augustine dealership with a loan in hand.
Ready to purchase your next ride? Your poor credit doesn’t have to stop you. Apply with myAutoloan today and compare up to four bad credit auto loans in St Augustine, FL!