What Counts as Bad Credit in Jennings, LA?
When you borrow money — like a car loan — Louisiana lenders look at your credit score to determine the likelihood of you repaying it. Many factors influence 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 Jennings, LA lender will have its own guidelines for what it deems a poor credit score, you are often seen as having bad credit if your score sits under the 600 benchmark. Lenders will also be nervous if you have a history of bankruptcy, foreclosure, or repossession.
Can I Still Get a Car Loan in Jennings, LA with Low Credit?
Many car buyers have asked, “Can I get a car loan with a credit score of 600 or less?” The short answer is yes. However, it's going to be harder to finance a car with bad credit in Jennings, LA. For starters, not every lender offers poor or no credit loans, so you may need to put in extra effort to find a lender willing to work with you. The good news is that myAutoloan partners with lenders specializing in bad credit loans.
Once you've chosen a lender in Louisiana, you may discover your loan is impacted by your low credit score. A poor credit score can result in limited borrowing and higher interest rates. This high interest rate will also mean higher monthly payments and overall loan costs. Tools like our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Jennings loan could look like before you apply.
Worried about your potential interest rate and monthly payment? You may want to think about increasing your credit score before applying for auto loans in Jennings, Louisiana. View our Guide to Better Credit for Auto Financing for information about credit scores and tips for quickly raising yours.
Find the Best Deal on Poor Credit Car Loans in Jennings, LA
A poor credit score can increase the rate on your car loan, making it more important than ever to compare costs to find the right deal in Jennings, LA. At myAutoloan, we want to help you find the best loan — even without the best credit history. Simply choose your offer type and complete a confidential, secure application. We'll show you up to four loans at once, allowing you to compare rates in minutes. Then, you can select the best loan for you and visit any dealership in Jennings with cash in hand.
Ready to purchase your next ride? Bad credit doesn't have to get in the way. Apply with myAutoloan today and compare up to four bad credit auto loans in Jennings, LA!