What Counts as Bad Credit in Harrodsburg, KY?
When you try to borrow money — like a car loan — Kentucky lenders look at your credit score to evaluate the chances of you repaying it. Many factors play into 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 each lender in Harrodsburg, KY will have its own guidelines for what it deems a poor credit score, you may be seen as having bad credit if your score is less than 600. Lenders will also be wary if you have a history of bankruptcy, foreclosure, or repossession.
Can I Still Get a Car Loan in Harrodsburg, KY with Low Credit?
Many borrowers have asked, “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 Harrodsburg, KY. First off, not every lender feels comfortable giving loans to people with poor or no credit, so you may need to put in extra effort to find a lender willing to work with you. Luckily, myAutoloan partners with lenders specializing in bad credit car loans.
Once you've found a lender in Kentucky, you may discover 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 larger monthly payments and overall repayment. Our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Harrodsburg loan might look like before filling out an application.
Do your potential interest rate and monthly payment have you sweating? You may want to think about increasing your credit score before you start applying for auto loans in Harrodsburg, Kentucky. 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 Harrodsburg, KY Poor Credit Car Loans
A bad credit score can increase your car loan rate, making it more critical than ever to compare costs to find the right deal in Harrodsburg, KY. myAutoloan wants to help you find the best loan — even without the best credit history. Simply choose 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. After, you can select the loan that looks best to you and head to your local Harrodsburg dealership with cash in hand.
Ready to purchase your next ride? Your poor credit doesn’t have to stop you. Apply now and compare up to four bad credit auto loans in Harrodsburg, KY through myAutoloan!