What Counts as Bad Credit in Scranton, PA?
When you apply for a car loan, mortgage, or another type of loan, lenders in Pennsylvania use your credit score to evaluate how likely you are to repay it. Many factors go 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 each Scranton, PA lender has its own criteria for what's considered a bad 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 Scranton, PA with Low 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 is yes. But, you'll likely face some challenges financing a car with bad credit in Scranton, PA. To begin with, not every lender is willing to give a loan to someone with poor or no credit, so you may need to put in some extra hours to find a lender who will help with your financing. Luckily, myAutoloan partners with lenders specializing in bad credit car loans.
Once you've found a lender in Pennsylvania, you may discover your low credit score impacts your loan. A poor credit score might limit your borrowing and lead to higher interest rates. This high interest rate will also mean higher monthly payments and total repayment. Use our Interest Rate Estimator and Payment Calculator to see what the monthly payment on your Scranton loan might be before filling out an application.
Worried about your potential interest rate and monthly payment? You may want to contemplate boosting your credit score before applying for auto loans in Scranton, Pennsylvania. Study our Guide to Better Credit for Auto Financing for help understanding and quickly raising 7our credit.
Find the Best Deal on Poor Credit Car Loans in Scranton, PA
A low credit score can increase the rate on your car loan, making it more crucial than ever to compare lenders in Scranton, PA and find the right deal. myAutoloan is here to help you find the best loan — regardless of your credit history. All you need to do is select your offer type and fill out our secure, confidential application. We’ll show you up to four loans at a time so you can compare rates in minutes. Then, you can select the right loan for you and head to your favorite Scranton dealership with cash in hand.
Why wait to get a new ride? Your poor credit doesn’t have to stop you. Apply with myAutoloan today and compare up to four bad credit auto loans in Scranton, PA!