What Counts as Bad Credit in Union City, GA?
When you apply for a car loan, mortgage, or another type of loan, lenders in Georgia use your credit score to evaluate the likelihood of you repaying it. Your credit score is calculated using many factors, including the number of open accounts you have, your repayment history, the age of your credit accounts, and any remaining loan balances. While every Union City, GA lender has its own benchmarks for what's considered a low credit score, you may be seen as having bad credit if your score is less than 600. Lenders will also be worried if you’ve experienced bankruptcy, repossession, or foreclosure.
Can I Get a Car Loan in Union City, GA If I Have 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 simple answer is yes. Still, it's going to be harder to finance a car with bad credit in Union City, GA. 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 work with you. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
Once you find a lender in Georgia, you may see that your low credit score changes your loan. A poor credit score can limit your borrowing and result in higher interest rates. This high interest rate will also mean higher monthly payments and total repayment. Tools like our Interest Rate Estimator and Payment Calculator can help you see an estimate for the monthly payment on your Union City loan before completing an application.
Worried about your potential interest rate and monthly payment? You may want to think about increasing your credit score before applying for auto loans in Union City, Georgia. Check out our Guide to Better Credit for Auto Financing for help understanding and quickly raising 7our credit.
Find the Best Deal in Union City, 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 costs and find the right loan in Union City, GA. myAutoloan is here to help you find the best loan — no matter your credit history. All you have to do is select your offer type and complete a confidential, secure application. You'll see up to four loans at once so you can compare rates in minutes. After, you can select the loan that looks best to you and head down to your go-to dealership in Union City with cash in hand.
Why wait to get 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 Union City, GA through myAutoloan!