What Counts as Bad Credit in Columbia, PA?
When you apply for a car loan, mortgage, or another type of loan, lenders in Pennsylvania look at your credit score to decide the probability that you'll repay it. Many factors play into your credit score, including any remaining loan balances, your repayment history, the number of open accounts you have, and the age of your credit accounts. While every lender in Columbia, PA has its own benchmarks for what's considered a low credit score, you could be seen as having bad credit if your score is lower than 600. Lenders will also be nervous if you've gone through bankruptcy, repossession, or foreclosure.
Is it Possible to Get a Car Loan in Columbia, PA with Bad Credit?
Many borrowers have asked, “Can I get a car loan with a credit score of 600 or less?” Yes, you can. However, it's going to be harder to finance a car with bad credit in Columbia, PA. 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 some extra hours to find a lender who will help with your financing. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
Once you've found a lender in Pennsylvania, you may notice 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 also mean higher monthly payments and total repayment. Tools like our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Columbia loan might be before filling out an application.
Concerned about your possible interest rate and monthly payment? You may want to think about raising your credit score before you apply for Columbia, Pennsylvania car loans. Check out our Guide to Better Credit for Auto Financing for information about credit scores and tips for quickly raising yours.
Find the Best Deal on Bad Credit Car Loans in Columbia, PA
A bad credit score can increase your car loan rate, making it more important than ever to compare lending options and find the right deal in Columbia, PA. myAutoloan wants to make sure you find the best loan — despite your credit history. All you have to do is choose 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. After, you can choose the best loan for you and head to your favorite Columbia dealership with a check in hand.
Need a new ride? Bad credit doesn't have to stop you. Apply through myAutoloan now and review up to four Columbia, PA bad credit car loans!