What Counts as Bad Credit in Allentown, PA?
When you apply for a car loan, mortgage, or another type of loan, lenders in Pennsylvania use your credit score to determine the chances of you repaying 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 each lender in Allentown, PA will have its own guidelines for what’s considered a poor credit score, you might be seen as having bad credit if your score falls below 600. Lenders will also be worried if you've experienced repossession, bankruptcy, or foreclosure.
Can I Still Get a Car Loan in Allentown, PA with Bad Credit?
You're not the first car buyer to wonder, “Can I get a car loan with a credit score of 600 or less?” Yes, you can. However, financing a car in Allentown, PA with bad credit won't necessarily be easy. Most notably, not every lender offers poor or no credit loans, so it may take some extra time to find a lender who will help with your financing. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
Once you've chosen a lender in Pennsylvania, you may see that your low credit score affects your loan. You may have limited borrowing power and a higher interest rate due to your poor credit score. This high interest rate will lead to 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 Allentown loan could look like before you apply.
Do your potential interest rate and monthly payment have you worried? You should look into raising your credit score before applying for auto loans in Allentown, Pennsylvania. View our Guide to Better Credit for Auto Financing for information about credit scores and tips for quickly raising yours.
Find the Best Deal on Allentown, PA Poor 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 Allentown, PA. myAutoloan wants to help you find the best loan — regardless of 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 in minutes so you can easily compare rates. Finally, you can select the right loan for you and visit any dealership in Allentown with a loan in hand.
Why wait to get a new ride? Your poor credit doesn’t have to stop you. Apply through myAutoloan now and review up to four Allentown, PA bad credit car loans!