How Do I Know If I Have Bad Credit in Hazard, KY?
When you apply for a car loan, mortgage, or another type of loan, lenders in Kentucky use your credit score to decide the likelihood of you repaying it. Many factors play into 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 Hazard, KY lender has its own criteria for what's considered a low credit score, you might be seen as having bad credit if you have a score below 600. Lenders will also be worried if you've gone through bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Hazard, KY with Bad Credit?
Many car buyers have asked, “Can I get a car loan with a credit score of 600 or less?” The short answer? Yes. Still, you'll likely face some challenges financing a car with bad credit in Hazard, KY. First off, not every lender offers poor or no credit loans, so you may need to put in extra effort to find a lender who will help with your financing. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
Once you've found a lender in Kentucky, you may see that your low credit score affects your loan. A poor credit score can limit your borrowing and result in higher interest rates. High interest rates also mean higher monthly payments and overall repayment. Our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Hazard loan could look like before even applying.
Do your potential interest rate and monthly payment have you worried? You should look into raising your credit score before applying for auto loans in Hazard, Kentucky. Take a look at 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 Hazard, KY Poor Credit Car Loans
A low credit score can raise your car loan rate, making it more critical than ever to compare costs to find the right deal in Hazard, KY. myAutoloan wants to make sure you find the best loan — no matter your credit history. All you have to do is choose your offer type and fill out our secure, confidential 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 favorite Hazard dealership with money in hand.
Why wait to get a new ride? Poor credit shouldn't stop you. Apply through myAutoloan now and review up to four Hazard, KY bad credit car loans!