What Counts as Bad Credit in Poughkeepsie, NY?
When you apply for a car loan, mortgage, or another type of loan, New York lenders use your credit score to figure out the probability that you'll repay it. Your credit score is calculated using many factors, including any remaining loan balances, your repayment history, the number of open accounts you have, and the age of your credit accounts. While every Poughkeepsie, NY lender has its own guidelines for what it considers a poor credit score, you might be seen as having bad credit if your score is less than 600. Lenders will also be nervous if you've gone through bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Poughkeepsie, NY 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?” The short answer is yes. Keep in mind, it's going to be harder to finance a car with bad credit in Poughkeepsie, NY. Most notably, 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 help with your financing. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
Once you've found a lender in New York, you may see that your low credit score impacts your loan. A poor credit score can result in limited borrowing and higher interest rates. High interest rates also mean larger monthly payments and more spent over the life of the loan. With our Interest Rate Estimator and Payment Calculator, you can see what the monthly payment on your Poughkeepsie loan might be before filling out an application.
Do your potential interest rate and monthly payment have you worried? You may want to look into improving your credit score before applying for Poughkeepsie, New York auto loans. Take a look at our Guide to Better Credit for Auto Financing to better understand your credit score and how you can raise it.
Find the Best Deal in Poughkeepsie, NY for Bad Credit Car Loans
A poor credit score can raise your car loan rate, so it's more critical than ever to compare costs and find the right loan in Poughkeepsie, NY. myAutoloan wants to help you find the best loan — no matter your credit history. Simply choose your offer type and complete or confidential and secure application. We'll show you up to four loans in minutes so you can easily compare rates. To finish, you can select the best loan for you and head down to your go-to dealership in Poughkeepsie with a loan in hand.
Need a new ride? Your poor credit doesn’t have to stop you. Apply through myAutoloan now and review up to four Poughkeepsie, NY bad credit car loans!