Do I Have Bad Credit in Burlington, NJ?
When you try to borrow money — like a car loan — lenders in New Jersey look at your credit score to figure out 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 Burlington, NJ lender has its own criteria for what it considers a poor credit score, you could be seen as having bad credit if you have a score below 600. Lenders will also be nervous if you've experienced repossession, bankruptcy, or foreclosure.
Can I Get a Car Loan in Burlington, NJ If I Have 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?” Yes, you can. Still, financing a car in Burlington, NJ with bad credit won't necessarily be easy. To begin with, not every lender offers poor or no credit loans, so it may take some extra time to find a lender who will work with you. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
Once you find a lender in New Jersey, you may discover your loan is impacted by your low credit score. A poor credit score can result in limited borrowing and higher interest rates. This high interest rate will lead to higher monthly payments and overall loan costs. Our Interest Rate Estimator and Payment Calculator can help you see an estimate for the monthly payment on your Burlington loan before you apply.
Do your potential interest rate and monthly payment have you sweating? You may want to think about raising your credit score before applying for auto loans in Burlington, New Jersey. 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 in Burlington, NJ for Bad Credit Car Loans
A bad credit score can raise your car loan rate, making it more important than ever to compare costs and find the right loan in Burlington, NJ. At myAutoloan, we want to help you find the best loan — no matter your credit history. All you need to do is select your offer type and complete our secure, confidential application. We’ll show you up to four loans at a time so you can compare rates in minutes. Then, you can select the loan that looks best to you and head down to your go-to dealership in Burlington with cash in hand.
Need a new ride? Bad credit doesn't have to stop you. Apply now and compare up to four bad credit auto loans in Burlington, NJ through myAutoloan!