What Counts as Bad Credit in Gainesville, GA?
When you apply for a car loan, mortgage, or another type of loan, lenders in Georgia use your credit score to figure out the probability that you'll repay it. Many factors influence 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 Gainesville, GA has its own criteria for what it considers a poor credit score, you might be seen as having bad credit if your score falls below 600. Lenders will also be nervous if you've experienced repossession, bankruptcy, or foreclosure.
Can I Get a Car Loan in Gainesville, 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?” Yes, you can. But, you'll likely face some challenges financing a car with bad credit in Gainesville, GA. For starters, not all lenders are willing to give a loan to someone with no or poor credit, so you may need to spend some extra time finding a lender who will work with you. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
Once you've found a lender in Georgia, you may notice 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 lead to larger monthly payments and overall repayment. Our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Gainesville loan might be before even applying.
Do your potential interest rate and monthly payment have you worried? You might want to consider improving your credit score before you start applying for auto loans in Gainesville, Georgia. Study our Guide to Better Credit for Auto Financing to learn about credit scores and how you can quickly raise yours.
Find the Best Deal on Poor Credit Car Loans in Gainesville, GA
A bad credit score can increase your car loan rate, making it more important than ever to compare lending options and find the right deal in Gainesville, GA. At myAutoloan, we want 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 our secure, confidential application. We'll show you up to four loans in minutes so you can easily compare rates. To finish, you can select the right loan for you and head to your local Gainesville dealership with a loan in hand.
Ready to purchase a new ride? Your poor credit doesn’t have to stop you. Apply today through myAutoloan and compare up to four Gainesville, GA bad credit auto loans!