What Counts as Bad Credit in Oxford, PA?
When you apply for a car loan, mortgage, or another type of loan, lenders in Pennsylvania use your credit score to decide 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 Oxford, PA has its own criteria for what's considered a low credit score, you could be seen as having bad credit if you have a score below 600. Lenders will also be worried if you have a history of bankruptcy, foreclosure, or repossession.
Can I Get a Car Loan in Oxford, 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?” The short answer? Yes. Keep in mind, you'll likely face some challenges financing a car with bad credit in Oxford, PA. To begin with, 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 find a lender in Pennsylvania, you may learn your low credit score affects your loan. A poor credit score can result in limited borrowing and higher interest rates. This high interest rate will lead to larger monthly payments and overall loan costs. With our Interest Rate Estimator and Payment Calculator, you can see an estimate for the monthly payment on your Oxford loan before completing an application.
Concerned about your possible interest rate and monthly payment? You may want to contemplate improving your credit score before applying for auto loans in Oxford, Pennsylvania. Take a look at our Guide to Better Credit for Auto Financing for information about credit scores and tips for quickly raising yours.
Find the Best Deal on Poor Credit Car Loans in Oxford, PA
A low credit score can raise the rate on your car loan, so it's more critical than ever to compare costs and find the right loan in Oxford, PA. myAutoloan is here 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 a confidential, 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 favorite Oxford dealership with cash 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 Oxford, PA bad credit car loans!