Compare Poor Credit Car Loans in Portales, NM

Don’t let bad credit get in between you and a new car! Apply with myAutoloan and compare up to four loans today! Choose the best financing option in Portales for you, and stop by your favorite New Mexico dealership to purchase your new ride.

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More Information

What Counts as Bad Credit in Portales, NM?

When you apply for a car loan, mortgage, or another type of loan, New Mexico lenders look at your credit score to determine the likelihood of you repaying it. Many factors influence 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 every Portales, NM lender has its own criteria for what's considered a bad credit score, you are often seen as having bad credit if your score is lower than 600. Lenders will also be wary if you’ve experienced bankruptcy, repossession, or foreclosure.

Can I Still Get a Car Loan in Portales, NM with Low Credit?

Many car buyers have asked, “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 Portales, NM. 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 who will work with you. Luckily, myAutoloan partners with lenders specializing in bad credit car loans.

Once you find a lender in New Mexico, you may see that your low credit score impacts your loan. A poor credit score can limit your borrowing and result in higher interest rates. Higher interest rates will mean higher monthly payments and more spent over the life of the loan. Use our Interest Rate Estimator and Payment Calculator to see an estimate for the monthly payment on your Portales loan before even applying.

Do your potential interest rate and monthly payment have you worried? You may want to consider boosting your credit score before applying for auto loans in Portales, New Mexico. Take a look at 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 Portales, NM for Bad Credit Car Loans

A low credit score can increase your car loan rate, making it more crucial than ever to compare lenders in Portales, NM and find the right deal. 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 complete or confidential and secure 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 visit any dealership in Portales with a loan in hand.

Need a new ride? Bad credit doesn't have to stop you. Apply through myAutoloan now and review up to four Portales, NM bad credit car loans!

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