What Is Considered Bad Credit in Portsmouth, NH?
When you apply for a car loan, mortgage, or another type of loan, lenders in New Hampshire use your credit score to figure out the likelihood of you repaying it. Many factors go into 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 each Portsmouth, NH lender has its own benchmarks for what it considers a poor credit score, you could be seen as having bad credit if your score sits under the 600 benchmark. Lenders will also be more cautious if you've experienced repossession, bankruptcy, or foreclosure.
Can I Still Get a Car Loan in Portsmouth, NH 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?” Yes, you can. Still, financing a car with bad credit in Portsmouth, NH will come with some challenges. For starters, not every lender is willing to give a loan to someone with poor or no credit, so you may need to put in extra effort to find a lender inclined to work with you. The good news is that myAutoloan partners with lenders specializing in bad credit loans.
Once you find a lender in New Hampshire, you may see that your low credit score impacts your loan. You may have limited borrowing power and a higher interest rate due to your poor credit score. This high interest rate will lead to higher monthly payments and more spent over the life of the loan. With our Interest Rate Estimator and Payment Calculator, you can see an estimate for the monthly payment on your Portsmouth loan before filling out an application.
Do your potential interest rate and monthly payment have you worried? You might want to contemplate raising your credit score before applying for auto loans in Portsmouth, New Hampshire. View 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 Poor Credit Car Loans in Portsmouth, NH
A bad credit score can raise the rate on your car loan, making it more important than ever to compare lending options and find the right deal in Portsmouth, NH. myAutoloan wants to help you find the best loan — even without the best credit history. Simply choose your offer type and fill out our secure, confidential 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 right loan for you and head to your favorite Portsmouth dealership with cash in hand.
Ready to purchase a new ride? Poor credit shouldn't stop you. Apply now and compare up to four bad credit auto loans in Portsmouth, NH through myAutoloan!