How Do I Know If I Have Bad Credit in Statesboro, GA?
When you try to borrow money — like a car loan — lenders in Georgia look at your credit score to evaluate the probability that you'll repay it. Many factors play into your credit score, including the number of open accounts you have, your repayment history, the age of your credit accounts, and any remaining loan balances. While every Statesboro, GA lender will have its own guidelines for what's considered a low credit score, you could be seen as having bad credit if your score is lower than 600. Lenders will also be nervous if you’ve experienced bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Statesboro, GA with Low Credit?
Many car buyers have asked, “Can I get a car loan with a credit score of 600 or less?” The short answer is yes. However, financing a car with bad credit in Statesboro, GA will come with some challenges. Most notably, not all lenders are willing to give a loan to someone with no or poor credit, so you may need to put in some extra hours to find a lender who will work with you. The good news is that myAutoloan partners with lenders specializing in bad credit loans.
Once you've chosen 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. High interest rates also mean higher monthly payments and overall repayment. Tools like our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Statesboro loan could look like before even applying.
Worried about your potential interest rate and monthly payment? You should think about raising your credit score before you start applying for auto loans in Statesboro, Georgia. View our Guide to Better Credit for Auto Financing for help understanding and quickly raising 7our credit.
Find the Best Deal in Statesboro, GA for Bad Credit Car Loans
A bad credit score can increase the rate on your car loan, making it more crucial than ever to compare lending options and find the right deal in Statesboro, GA. myAutoloan wants to make sure you find the best loan — despite your credit history. All you need to do is select your offer type and complete a confidential, secure application. We'll show you up to four loans in minutes so you can easily compare rates. After, you can select the loan that looks best to you and head down to your go-to dealership in Statesboro with a check in hand.
Ready to purchase a new ride? Poor credit shouldn't stop you. Apply today through myAutoloan and compare up to four Statesboro, GA bad credit auto loans!