Do I Have Bad Credit in Artesia, NM?
When you try to borrow money — like a car loan — lenders in New Mexico use your credit score to decide the chances 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 each lender in Artesia, NM will have its own guidelines for what it considers a poor credit score, you might be seen as having bad credit if your score is lower than 600. Lenders will also be wary if you've gone through bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Artesia, NM 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. But, it's going to be harder to finance a car with bad credit in Artesia, NM. First off, 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 who will work with you. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
Once you find a lender in New Mexico, you may discover your low credit score changes your loan. A poor credit score can limit your borrowing and result in higher interest rates. This high interest rate will lead to higher monthly payments and overall loan costs. With our Interest Rate Estimator and Payment Calculator, you can see what the monthly payment on your Artesia loan could look like before filling out an application.
Worried about your potential interest rate and monthly payment? You may want to consider boosting your credit score before applying for Artesia, New Mexico auto loans. 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 Artesia, NM
A low credit score can raise the rate on your car loan, so it's more critical than ever to compare costs and find the right loan in Artesia, NM. At myAutoloan, we want to help you find the best loan — despite your credit history. All you need to do is select your offer type and fill out our secure, confidential application. We'll show you up to four loans in minutes so you can easily compare rates. Then, you can choose the best loan for you and head to your favorite Artesia dealership with a loan in hand.
Ready to purchase a new ride? Your poor credit doesn’t have to stop you. Apply through myAutoloan now and review up to four Artesia, NM bad credit car loans!