What Counts as Bad Credit in Reno, PA?
When you apply for a car loan, mortgage, or another type of loan, Pennsylvania lenders use your credit score to decide the likelihood of you repaying it. Many factors play into your credit score, including any remaining loan balances, your repayment history, the number of open accounts you have, and the age of your credit accounts. While every Reno, PA lender has its own criteria for what it deems a poor credit score, you may be seen as having bad credit if your score falls below 600. Lenders will also be nervous if you’ve experienced bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Reno, PA with Bad Credit?
Many car buyers have asked, “Can I get a car loan with a credit score of 600 or less?” The simple answer is yes. However, you'll likely face some challenges financing a car with bad credit in Reno, PA. For starters, 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 who will work with you. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
Once you've chosen a lender in Pennsylvania, you may learn your loan is impacted by your low credit score. A poor credit score can limit your borrowing and result in higher interest rates. This high interest rate will lead to larger monthly payments and overall loan costs. Tools like our Interest Rate Estimator and Payment Calculator can help you see an estimate for the monthly payment on your Reno loan before even applying.
Do your potential interest rate and monthly payment have you worried? You should think about raising your credit score before you start applying for auto loans in Reno, Pennsylvania. Study our Guide to Better Credit for Auto Financing for information about credit scores and tips for quickly raising yours.
Find the Best Deal in Reno, PA for Bad Credit Car Loans
A low credit score can increase the rate on your car loan, so it's more critical than ever to compare lenders in Reno, PA and find the right deal. myAutoloan wants to help you find the best loan — despite your credit history. Simply choose your offer type and complete a confidential, secure application. You'll see up to four loans at once so you can compare rates in minutes. After, you can choose the best loan for you and head down to your go-to dealership in Reno 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 Reno, PA bad credit auto loans!