What Is Considered Bad Credit in Pen Argyl, PA?
When you apply for a car loan, mortgage, or another type of loan, lenders in Pennsylvania look at your credit score to figure out the probability that you'll repay 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 Pen Argyl, PA has its own benchmarks for what's considered a bad credit score, you could be seen as having bad credit if your score sits under the 600 benchmark. Lenders will also be more cautious if you've experienced repossession, bankruptcy, or foreclosure.
Can I Still Get a Car Loan in Pen Argyl, PA with Bad Credit?
You’re not the first car buyer asking, “Can I get a car loan with a credit score of 600 or less?” The short answer? Yes. But, you'll likely face some challenges financing a car with bad credit in Pen Argyl, PA. For starters, not every lender is willing to give a loan to someone with poor or no credit, so you may need to spend some extra time finding a lender who will help with your financing. The good news is that myAutoloan partners with lenders specializing 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 limit your borrowing and result in higher interest rates. High interest rates also mean higher monthly payments and more spent over the life of the loan. Use our Interest Rate Estimator and Payment Calculator to see an estimate for the monthly payment on your Pen Argyl loan before completing an application.
Do your potential interest rate and monthly payment have you worried? You might want to contemplate improving your credit score before you apply for Pen Argyl, 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 on Bad Credit Car Loans in Pen Argyl, PA
A bad credit score can increase the rate on your car loan, making it more critical than ever to compare lenders in Pen Argyl, PA and find the right deal. 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 complete or confidential and secure application. We’ll show you up to four loans at a time so you can compare rates in minutes. Finally, you can select the loan that looks best to you and head to your local Pen Argyl dealership with money in hand.
Ready to purchase a new ride? Bad credit doesn't have to stop you. Apply today through myAutoloan and compare up to four Pen Argyl, PA bad credit auto loans!