What Counts as Bad Credit in Princeton, KY?
When you borrow money — like a car loan — Kentucky lenders look at your credit score to evaluate the chances of you repaying it. Your credit score is calculated using many factors, including your repayment history, the number of accounts you have open, the age of your credit accounts, and any remaining loan balances. While each Princeton, KY lender has its own criteria for what it considers a poor credit score, you may be seen as having bad credit if your score is less than 600. Lenders will also be nervous if you’ve experienced bankruptcy, repossession, or foreclosure.
Is it Possible to Get a Car Loan in Princeton, KY with 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 short answer? Yes. But, financing a car in Princeton, KY with bad credit won't necessarily be easy. To begin with, 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 inclined to work with you. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
When you find a lender in Kentucky, you may learn your low credit score impacts your loan. A poor credit score can result in limited borrowing and higher interest rates. Higher interest rates will mean larger 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 Princeton loan might look like before filling out an application.
Do your potential interest rate and monthly payment have you sweating? You may want to consider raising your credit score before applying for Princeton, Kentucky auto loans. Take a look at our Guide to Better Credit for Auto Financing for help understanding and quickly raising 7our credit.
Find the Best Deal on Poor Credit Car Loans in Princeton, KY
A bad credit score can raise the rate on your car loan, so it's more critical than ever to compare costs to find the right deal in Princeton, KY. At myAutoloan, we want to help you find the best loan — despite your credit history. Simply choose your offer type and fill out our secure, confidential 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 to your favorite Princeton dealership with cash in hand.
Ready to purchase a new ride? Your poor credit doesn’t have to stop you. Apply now and compare up to four bad credit auto loans in Princeton, KY through myAutoloan!