What Is Considered Bad Credit in White Plains, 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. Many factors influence your credit score, including the age of your credit accounts, the number of open accounts you have, any remaining loan balances, and your repayment history. While every White Plains, NY lender has its own guidelines for what it deems a poor credit score, you may be seen as having bad credit if your score is lower than 600. Lenders will also be wary if you've experienced repossession, bankruptcy, or foreclosure.
Can I Still Get a Car Loan in White Plains, NY with Low Credit?
Many borrowers have asked, “Can I get a car loan with a credit score of 600 or less?” Yes, you can. But, you'll likely face some challenges financing a car with bad credit in White Plains, NY. To begin with, 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 has lending partners that specialize in bad credit loans.
Once you find a lender in New York, you may learn your low credit score impacts 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. With our Interest Rate Estimator and Payment Calculator, you can see what the monthly payment on your White Plains loan could look like before you apply.
Worried about your potential interest rate and monthly payment? You may want to look into increasing your credit score before applying for White Plains, New York auto loans. Check out our Guide to Better Credit for Auto Financing for help understanding and quickly raising 7our credit.
Find the Best Deal in White Plains, NY for Bad Credit Car Loans
A low credit score can increase the rate on your car loan, making it more critical than ever to compare costs and find the right loan in White Plains, NY. myAutoloan is here to help you find the best loan — no matter your credit history. All you have to do is select your offer type and fill out 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 visit any dealership in White Plains with money in hand.
Ready to purchase your next ride? Your poor credit doesn’t have to stop you. Apply through myAutoloan now and review up to four White Plains, NY bad credit car loans!