Do I Have Bad Credit in Shreveport, LA?
When you try to borrow money — like a car loan — lenders in Louisiana use your credit score to evaluate the probability that you'll repay it. Many factors influence your credit score, including your repayment history, the number of accounts you have open, the age of your credit accounts, and any remaining loan balances. While every Shreveport, LA lender will have its own guidelines for what's considered a bad 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 Shreveport, LA with Bad 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. However, you'll likely face some challenges financing a car with bad credit in Shreveport, LA. To begin with, not every lender offers poor or no credit loans, so you may need to spend some extra time finding a lender who will help with your financing. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
Once you find a lender in Louisiana, you may notice your low credit score changes 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. With our Interest Rate Estimator and Payment Calculator, you can see an estimate for the monthly payment on your Shreveport loan before you apply.
Do your potential interest rate and monthly payment have you sweating? You may want to contemplate raising your credit score before applying for auto loans in Shreveport, Louisiana. 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 Bad Credit Car Loans in Shreveport, LA
A poor credit score can raise your car loan rate, making it more important than ever to compare costs to find the right deal in Shreveport, LA. myAutoloan wants to make sure you find the best loan — regardless of your credit history. Simply 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 choose the best loan for you and head to your favorite Shreveport dealership with a check in hand.
Ready to purchase a new ride? Bad credit doesn't have to get in the way. Apply through myAutoloan now and review up to four Shreveport, LA bad credit car loans!