Do I Have Bad Credit in Auburn, NY?
When you try to borrow money — like a car loan — lenders in New York look at your credit score to figure out how likely you are to repay it. Your credit score is calculated using many factors, including the age of your credit accounts, the number of open accounts you have, any remaining loan balances, and your repayment history. While each Auburn, NY lender has its own benchmarks for what’s considered a poor credit score, you could be seen as having bad credit if your score is lower than 600. Lenders will also be more cautious if you’ve experienced bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Auburn, NY with Bad Credit?
You’re not the first car buyer asking, “Can I get a car loan with a credit score of 600 or less?” The short answer is yes. However, financing a car in Auburn, NY with bad credit won't necessarily be easy. To begin with, not every lender offers poor or no credit loans, so you may need to put in extra effort to find a lender inclined to work with you. Luckily, myAutoloan partners with lenders specializing in bad credit car loans.
Once you've chosen a lender in New York, you may notice your low credit score affects your loan. A poor credit score can result in limited borrowing and higher interest rates. This high interest rate will also mean higher monthly payments and overall loan costs. Use our Interest Rate Estimator and Payment Calculator to see what the monthly payment on your Auburn loan might be before even applying.
Do your potential interest rate and monthly payment have you worried? You may want to contemplate improving your credit score before applying for auto loans in Auburn, New York. View our Guide to Better Credit for Auto Financing to better understand your credit score and how you can raise it.
Find the Best Deal on Bad Credit Car Loans in Auburn, NY
A bad credit score can increase your car loan rate, making it more crucial than ever to compare costs and find the right loan in Auburn, NY. At myAutoloan, we want to help you find the best loan — regardless of your credit history. All you have to do is select your offer type and complete a confidential, secure application. You'll see up to four loans at once so you can compare rates in minutes. After, you can select the best loan for you and head to your local Auburn dealership with money in hand.
Need a new ride? Poor credit shouldn't stop you. Apply today through myAutoloan and compare up to four Auburn, NY bad credit auto loans!