Do I Have Bad Credit in Fairhaven, MA?
When you apply for any type of loan, lenders in Massachusetts use your credit score to figure out the likelihood of you repaying it. Many factors play into your credit score, including the number of open accounts you have, your repayment history, the age of your credit accounts, and any remaining loan balances. While every Fairhaven, MA lender has its own guidelines for what’s considered a poor credit score, you could be seen as having bad credit if your score is lower than 600. Lenders will also be more cautious if you have a history of bankruptcy, foreclosure, or repossession.
Can I Still Get a Car Loan in Fairhaven, MA 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 is yes. But, you'll likely face some challenges financing a car with bad credit in Fairhaven, MA. 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 extra effort to find a lender who will work with you. The good news is that myAutoloan partners with lenders specializing in bad credit loans.
Once you've chosen a lender in Massachusetts, you may learn your low credit score impacts your loan. You may have limited borrowing power and a higher interest rate due to your poor credit score. Higher interest rates will mean larger monthly payments and overall repayment. Use our Interest Rate Estimator and Payment Calculator to see an estimate for the monthly payment on your Fairhaven 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 Fairhaven, Massachusetts. 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 Bad Credit Car Loans in Fairhaven, MA
A bad credit score can increase the rate on your car loan, making it more critical than ever to compare costs to find the right deal in Fairhaven, MA. 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. You'll see up to four loans at once so you can compare rates in minutes. After, you can select the right loan for you and head down to your go-to dealership in Fairhaven with money in hand.
Need a new ride? Your poor credit doesn’t have to stop you. Apply today through myAutoloan and compare up to four Fairhaven, MA bad credit auto loans!