How Do I Know If I Have Bad Credit in Philadelphia, PA?
When you try to borrow money — like a car loan — Pennsylvania lenders look at your credit score to figure out the chances of you repaying it. Many factors influence your credit score, including your repayment history, the number of accounts you have open, the age of your credit accounts, and any remaining loan balances. While every Philadelphia, PA lender has its own guidelines for what it considers a poor credit score, you may be seen as having bad credit if your score is lower than 600. Lenders will also be wary if you have a history of bankruptcy, foreclosure, or repossession.
Can I Get a Car Loan in Philadelphia, PA If I Have Bad Credit?
You’re not the first car buyer asking, “Can I get a car loan with a credit score of 600 or less?” Yes, you can. But, financing a car with bad credit in Philadelphia, PA will come with some challenges. To begin with, not all lenders are willing to give a loan to someone with no or poor credit, so you may need to spend some extra time finding a lender willing to work with you. Luckily, myAutoloan partners with lenders specializing in bad credit car loans.
Once you find a lender in Pennsylvania, you may discover your loan is impacted by your low credit score. A poor credit score can result in limited borrowing and higher interest rates. High interest rates also mean higher monthly payments and overall repayment. Our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Philadelphia loan might look like before completing an application.
Do your potential interest rate and monthly payment have you sweating? You might want to look into boosting your credit score before applying for Philadelphia, Pennsylvania auto loans. Check out 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 Philadelphia, PA
A poor credit score can raise the rate on your car loan, making it more crucial than ever to compare costs to find the right deal in Philadelphia, PA. myAutoloan is here to help you find the best loan — despite your credit history. All you have to do is select 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 best loan for you and head down to your go-to dealership in Philadelphia with a loan in hand.
Need a new ride? Your poor credit doesn’t have to stop you. Apply today through myAutoloan and compare up to four Philadelphia, PA bad credit auto loans!