Do I Have Bad Credit in Baton Rouge, LA?
When you apply for a car loan, mortgage, or another type of loan, Louisiana lenders use 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 Baton Rouge, LA lender has its own guidelines for what’s considered a poor credit score, you are often seen as having bad credit if your score falls below 600. Lenders will also be more cautious if you have a history of bankruptcy, foreclosure, or repossession.
Is it Possible to Get a Car Loan in Baton Rouge, LA with Bad Credit?
Many borrowers have asked, “Can I get a car loan with a credit score of 600 or less?” The short answer is yes. But, you'll likely face some challenges financing a car with bad credit in Baton Rouge, LA. For starters, not all lenders are willing to give a loan to someone with no or poor credit, so you may need to put in extra effort to find a lender who will work with you. Luckily, myAutoloan partners with lenders specializing in bad credit car loans.
Once you've found a lender in Louisiana, you may discover your low credit score affects your loan. A poor credit score might limit your borrowing and lead to higher interest rates. This high interest rate will lead to higher monthly payments and total repayment. Tools like our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Baton Rouge loan might be before completing an application.
Do your potential interest rate and monthly payment have you worried? You might want to look into raising your credit score before applying for auto loans in Baton Rouge, Louisiana. 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 Baton Rouge, LA Poor Credit Car Loans
A low credit score can raise the rate on your car loan, making it more crucial than ever to compare costs to find the right deal in Baton Rouge, LA. myAutoloan is here to help you find the best loan — regardless of your credit history. All you have to do is 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 best loan for you and visit any dealership in Baton Rouge with a check in hand.
Ready to purchase a new ride? Poor credit shouldn't stop you. Apply now and compare up to four bad credit auto loans in Baton Rouge, LA through myAutoloan!