How Do I Know If I Have Bad Credit in Atlanta, GA?
When you apply for any type of loan, lenders in Georgia use your credit score to decide the probability that you'll repay it. Many factors influence your credit score, including your repayment history, the number of accounts you have open, the age of your credit accounts, and any remaining loan balances. While every lender in Atlanta, GA will have its own guidelines for what’s considered a poor credit score, you might be seen as having bad credit if your score is lower than 600. Lenders will also be nervous if you have a history of bankruptcy, foreclosure, or repossession.
Can I Still Get a Car Loan in Atlanta, GA with Low Credit?
Many borrowers have asked, “Can I get a car loan with a credit score of 600 or less?” The simple answer is yes. Still, you'll likely face some challenges financing a car with bad credit in Atlanta, GA. 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 who will help with your financing. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
Once you've found a lender in Georgia, you may learn your low credit score impacts your loan. You may have limited borrowing power and a higher interest rate due to your poor credit score. This high interest rate will also mean higher monthly payments and more spent over the life of the loan. Use our Interest Rate Estimator and Payment Calculator to see what the monthly payment on your Atlanta loan could look like before even applying.
Do your potential interest rate and monthly payment have you worried? You may want to look into improving your credit score before applying for Atlanta, Georgia auto loans. View our Guide to Better Credit for Auto Financing for information about credit scores and tips for quickly raising yours.
Find the Best Deal in Atlanta, GA for Bad Credit Car Loans
A bad credit score can raise the rate on your car loan, making it more crucial than ever to compare lending options and find the right deal in Atlanta, GA. At myAutoloan, we want to help you find the best loan — despite your credit history. All you have to do is select your offer type and fill out our secure, confidential application. We’ll show you up to four loans at a time so you can compare rates in minutes. After, you can select the loan that looks best to you and visit any dealership in Atlanta with cash in hand.
Ready to purchase a new ride? Poor credit shouldn't stop you. Apply through myAutoloan now and review up to four Atlanta, GA bad credit car loans!