What Counts as Bad Credit in New Castle, PA?
When you try to borrow money — like a car loan — lenders in Pennsylvania use your credit score to decide 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 every New Castle, PA lender will have its own guidelines for what's considered a low credit score, you may be seen as having bad credit if your score sits under the 600 benchmark. Lenders will also be nervous if you have a history of bankruptcy, foreclosure, or repossession.
Can I Still Get a Car Loan in New Castle, PA with Bad Credit?
Many car buyers have asked, “Can I get a car loan with a credit score of 600 or less?” The short answer? Yes. But, financing a car in New Castle, PA with bad credit won't necessarily be easy. First off, not every lender offers poor or no credit loans, 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 find a lender in Pennsylvania, you may notice your low credit score changes your loan. A poor credit score can limit your borrowing and result in higher interest rates. Higher interest rates will 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 New Castle loan could look like before completing an application.
Do your potential interest rate and monthly payment have you sweating? You might want to look into increasing your credit score before you start applying for auto loans in New Castle, Pennsylvania. Study our Guide to Better Credit for Auto Financing to better understand your credit score and how you can raise it.
Find the Best Deal on Bad Credit Car Loans in New Castle, PA
A poor credit score can raise the rate on your car loan, so it's more critical than ever to compare lending options and find the right deal in New Castle, PA. myAutoloan wants to help you find the best loan — even without the best credit history. All you have to do is choose your offer type and complete our secure, confidential application. We'll show you up to four loans in minutes so you can easily compare rates. Then, you can select the best loan for you and head to your favorite New Castle dealership with a check in hand.
Why wait to get a new ride? Bad credit doesn't have to get in the way. Apply today through myAutoloan and compare up to four New Castle, PA bad credit auto loans!