What Counts as Bad Credit in Reno, NV?
When you try to borrow money — like a car loan — lenders in Nevada use your credit score to figure out the chances of you repaying it. Many factors play into 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 Reno, NV has its own criteria for what’s considered a poor credit score, you are often 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.
Can I Still Get a Car Loan in Reno, NV 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 simple answer is yes. But, it's going to be harder to finance a car with bad credit in Reno, NV. To begin with, not all lenders are willing to give a loan to someone with no or poor credit, so it may take some extra time to find a lender who will help with your financing. The good news is that myAutoloan partners with lenders specializing in bad credit loans.
Once you've found a lender in Nevada, you may notice your low credit score impacts your loan. A poor credit score can limit your borrowing and result in higher interest rates. High interest rates also mean larger monthly payments and total repayment. Our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Reno loan could look like before completing an application.
Do your potential interest rate and monthly payment have you sweating? You should consider increasing your credit score before applying for auto loans in Reno, Nevada. Study our Guide to Better Credit for Auto Financing for help understanding and quickly raising 7our credit.
Find the Best Deal on Poor Credit Car Loans in Reno, NV
A bad credit score can raise the rate on your car loan, making it more important than ever to compare costs and find the right loan in Reno, NV. 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. You'll see up to four loans at once so you can compare rates in minutes. Finally, you can select the right loan for you and head to your local Reno dealership with a loan in hand.
Why wait to get a new ride? Bad credit doesn't have to stop you. Apply through myAutoloan now and review up to four Reno, NV bad credit car loans!