Do I Have Bad Credit in Decatur, GA?
When you try to borrow money — like a car loan — lenders in Georgia look at your credit score to evaluate the likelihood of you repaying 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 lender in Decatur, GA has its own criteria for what’s considered a poor credit score, you may be seen as having bad credit if you have a score below 600. Lenders will also be nervous if you've gone through bankruptcy, repossession, or foreclosure.
Can I Get a Car Loan in Decatur, GA If I Have 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 simple answer is yes. Still, it's going to be harder to finance a car with bad credit in Decatur, GA. Most notably, not every lender feels comfortable giving loans to people with poor or no 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.
When you find a lender in Georgia, you may see that your low credit score impacts 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 overall loan costs. Our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Decatur loan might be before completing an application.
Concerned about your possible interest rate and monthly payment? You might want to consider increasing your credit score before you start applying for auto loans in Decatur, Georgia. 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 Bad Credit Car Loans in Decatur, GA
A low credit score can raise your car loan rate, making it more critical than ever to compare lending options and find the right deal in Decatur, GA. myAutoloan wants to help you find the best loan — even without the best credit history. Simply choose your offer type and complete or confidential and secure application. You'll see up to four loans at once so you can compare rates in minutes. To finish, you can select the loan that looks best to you and head down to your go-to dealership in Decatur with money in hand.
Why wait to get a new ride? Bad credit doesn't have to get in the way. Apply today through myAutoloan and compare up to four Decatur, GA bad credit auto loans!