What Counts as Bad Credit in Louisville, KY?
When you try to borrow money — like a car loan — lenders in Kentucky look at your credit score to determine how likely you are to repay it. Many factors play into your credit score, including the age of your credit accounts, the number of open accounts you have, any remaining loan balances, and your repayment history. While every lender in Louisville, KY has its own guidelines for what's considered a bad credit score, you are often seen as having bad credit if your score sits under the 600 benchmark. Lenders will also be wary if you've experienced repossession, bankruptcy, or foreclosure.
Can I Still Get a Car Loan in Louisville, KY with Low Credit?
You’re not the first car buyer asking, “Can I get a car loan with a credit score of 600 or less?” The simple answer is yes. Still, financing a car in Louisville, KY with bad credit won't necessarily be easy. To begin with, not every lender offers poor or no credit loans, so you may need to put in extra effort to find a lender inclined to work with you. Luckily, myAutoloan partners with lenders specializing in bad credit car loans.
Once you find a lender in Kentucky, you may notice your loan is impacted by your low credit score. 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 more spent over the life of the loan. Our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Louisville loan could look like before completing an application.
Do your potential interest rate and monthly payment have you sweating? You should think about improving your credit score before applying for auto loans in Louisville, Kentucky. View our Guide to Better Credit for Auto Financing to better understand your credit score and how you can raise it.
Find the Best Deal on Louisville, KY Poor Credit Car Loans
A bad credit score can raise the rate on your car loan, making it more crucial than ever to compare costs and find the right loan in Louisville, KY. myAutoloan wants to help 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. You'll see up to four loans at once so you can compare rates in minutes. Then, you can select the loan that looks best to you and visit any dealership in Louisville with money in hand.
Need a new ride? Poor credit shouldn't stop you. Apply now and compare up to four bad credit auto loans in Louisville, KY through myAutoloan!