What Is Considered Bad Credit in Jenkintown, PA?
When you try to borrow money — like a car loan — lenders in Pennsylvania use your credit score to figure out how likely you are to repay it. Your credit score is calculated using many factors, including the number of open accounts you have, your repayment history, the age of your credit accounts, and any remaining loan balances. While each lender in Jenkintown, PA has its own guidelines for what's considered a bad credit score, you could be seen as having bad credit if you have a score below 600. Lenders will also be wary if you've gone through bankruptcy, repossession, or foreclosure.
Can I Get a Car Loan in Jenkintown, PA If I Have Bad Credit?
Many car buyers have asked, “Can I get a car loan with a credit score of 600 or less?” Yes, you can. Still, it's going to be harder to finance a car with bad credit in Jenkintown, PA. To begin with, not all lenders are willing to give a loan to someone with no or poor credit, so you may need to put in extra effort 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 see that your low credit score affects your loan. A poor credit score can limit your borrowing and result in higher interest rates. High interest rates also mean higher monthly payments and total repayment. Tools like our Interest Rate Estimator and Payment Calculator can help you see an estimate for the monthly payment on your Jenkintown loan before you apply.
Do your potential interest rate and monthly payment have you worried? You may want to contemplate increasing your credit score before you apply for Jenkintown, Pennsylvania car loans. View our Guide to Better Credit for Auto Financing to learn about credit scores and how you can quickly raise yours.
Find the Best Deal in Jenkintown, PA for Bad Credit Car Loans
A bad credit score can raise your car loan rate, making it more crucial than ever to compare lenders in Jenkintown, PA and find the right deal. myAutoloan wants to make sure you find the best loan — regardless of your credit history. All you have to do is choose your offer type and complete or confidential and secure application. We'll show you up to four loans at once, allowing you to compare rates in minutes. Then, you can select the right loan for you and head to your local Jenkintown dealership with money in hand.
Ready to purchase your next ride? Poor credit shouldn't stop you. Apply through myAutoloan now and review up to four Jenkintown, PA bad credit car loans!