What Is Considered Bad Credit in Savannah, GA?
When you try to borrow money — like a car loan — Georgia lenders look at your credit score to evaluate how likely you are to 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 every Savannah, GA lender has its own criteria for what it deems a poor credit score, you could be seen as having bad credit if your score falls below 600. Lenders will also be worried if you've gone through bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Savannah, GA with 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. However, financing a car in Savannah, GA with bad credit won't necessarily be easy. For starters, 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 work with you. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
Once you've chosen 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 also mean higher monthly payments and overall loan costs. Tools like our Interest Rate Estimator and Payment Calculator can help you see an estimate for the monthly payment on your Savannah loan before filling out an application.
Concerned about your possible interest rate and monthly payment? You may want to contemplate improving your credit score before you apply for Savannah, Georgia car loans. Check out 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 Savannah, GA
A poor credit score can increase your car loan rate, making it more crucial than ever to compare lending options and find the right deal in Savannah, GA. myAutoloan is here to help you find the best loan — no matter your credit history. All you need to do is select 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. Finally, you can select the best loan for you and head to your local Savannah dealership with a loan in hand.
Ready to purchase a new ride? Bad credit doesn't have to get in the way. Apply now and compare up to four bad credit auto loans in Savannah, GA through myAutoloan!