What Is Considered Bad Credit in Duluth, GA?
When you borrow money — like a car loan — lenders in Georgia look at your credit score to figure out 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 Duluth, GA lender has its own benchmarks for what it considers a poor credit score, you may be seen as having bad credit if your score is lower than 600. Lenders will also be more cautious if you have a history of bankruptcy, foreclosure, or repossession.
Can I Still Get a Car Loan in Duluth, GA with Bad 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. But, financing a car with bad credit in Duluth, GA will come with some challenges. To begin with, not every lender is willing to give a loan to someone with poor or no credit, so you may need to put in extra effort to find a lender who will help with your financing. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
Once you've found a lender in Georgia, you may see that 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 overall loan costs. Tools like our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Duluth loan might look like before completing an application.
Do your potential interest rate and monthly payment have you worried? You might want to look into raising your credit score before you start applying for auto loans in Duluth, Georgia. Study 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 Duluth, GA Poor Credit Car Loans
A poor credit score can raise the rate on your car loan, so it's more critical than ever to compare costs and find the right loan in Duluth, GA. 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 a confidential, secure application. We'll show you up to four loans at once, allowing you to compare rates in minutes. To finish, you can select the right loan for you and head to your favorite Duluth dealership with a check in hand.
Ready to purchase your next ride? Poor credit shouldn't stop you. Apply now and compare up to four bad credit auto loans in Duluth, GA through myAutoloan!