Do I Have Bad Credit in New Bedford, MA?
When you apply for any type of loan, lenders in Massachusetts use your credit score to decide the likelihood 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 every New Bedford, MA lender has its own criteria for what's considered a low credit score, you might be seen as having bad credit if your score falls below 600. Lenders will also be wary if you have a history of bankruptcy, foreclosure, or repossession.
Can I Still Get a Car Loan in New Bedford, MA with Low Credit?
You’re not the first car buyer asking, “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 New Bedford, MA. Most notably, not every lender offers poor or no credit loans, so you may need to put in extra effort to find a lender inclined to work with you. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
When you find a lender in Massachusetts, you may discover your low credit score impacts your loan. A poor credit score might limit your borrowing and lead to higher interest rates. High interest rates also mean larger monthly payments and more spent over the life of the loan. Our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your New Bedford loan might look like before you apply.
Concerned about your possible interest rate and monthly payment? You might want to contemplate boosting your credit score before you start applying for auto loans in New Bedford, Massachusetts. Check out 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 New Bedford, MA for Bad Credit Car Loans
A bad credit score can increase your car loan rate, so it's more critical than ever to compare lenders in New Bedford, MA and find the right deal. myAutoloan wants to help you find the best loan — no matter your credit history. Simply choose your offer type and complete or confidential and secure application. We'll show you up to four loans at once, allowing you to compare rates in minutes. To finish, you can select the loan that looks best to you and head to your local New Bedford dealership with a check in hand.
Why wait to get a new ride? Bad credit doesn't have to get in the way. Apply today through myAutoloan and compare up to four New Bedford, MA bad credit auto loans!