Do I Have Bad Credit in Fort Washington, MD?
When you borrow money — like a car loan — lenders in Maryland look at your credit score to figure out the chances of you repaying it. Many factors influence your credit score, including any remaining loan balances, your repayment history, the number of open accounts you have, and the age of your credit accounts. While each lender in Fort Washington, MD has its own criteria for what it considers a poor credit score, you might be seen as having bad credit if your score falls below 600. Lenders will also be more cautious if you've gone through bankruptcy, repossession, or foreclosure.
Is it Possible to Get a Car Loan in Fort Washington, MD 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. Still, you'll likely face some challenges financing a car with bad credit in Fort Washington, MD. Most notably, 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 who will work with you. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
Once you've chosen a lender in Maryland, you may discover 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 also mean higher monthly payments and overall loan costs. With our Interest Rate Estimator and Payment Calculator, you can see what the monthly payment on your Fort Washington loan might be before even applying.
Do your potential interest rate and monthly payment have you sweating? You might want to consider improving your credit score before applying for auto loans in Fort Washington, Maryland. Take a look at our Guide to Better Credit for Auto Financing to learn about credit scores and how you can quickly raise yours.
Find the Best Deal in Fort Washington, MD for Bad Credit Car Loans
A poor credit score can raise your car loan rate, so it's more critical than ever to compare lenders in Fort Washington, MD and find the right deal. At myAutoloan, we want 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. We’ll show you up to four loans at a time so you can compare rates in minutes. To finish, you can select the loan that looks best to you and head to your favorite Fort Washington dealership with a loan in hand.
Ready to purchase a new ride? Poor credit shouldn't stop you. Apply today through myAutoloan and compare up to four Fort Washington, MD bad credit auto loans!