What Is Considered Bad Credit in Wilkes Barre, PA?
When you try to borrow money — like a car loan — lenders in Pennsylvania look at your credit score to decide how likely you are to repay 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 each lender in Wilkes Barre, PA has its own criteria for what's considered a bad credit score, you might be seen as having bad credit if you have a score below 600. Lenders will also be nervous if you have a history of bankruptcy, foreclosure, or repossession.
Can I Still Get a Car Loan in Wilkes Barre, 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 is yes. However, financing a car in Wilkes Barre, PA with bad credit won't necessarily be easy. To begin with, not every lender offers poor or no credit loans, so you may need to put in some extra hours to find a lender who will help with your financing. The good news is that myAutoloan partners with lenders specializing in bad credit loans.
Once you've found a lender in Pennsylvania, you may see that your low credit score affects your loan. You may have limited borrowing power and a higher interest rate due to your poor credit score. Higher interest rates will mean higher monthly payments and overall repayment. Tools like our Interest Rate Estimator and Payment Calculator can help you see an estimate for the monthly payment on your Wilkes Barre loan before completing an application.
Do your potential interest rate and monthly payment have you sweating? You may want to consider increasing your credit score before you apply for Wilkes Barre, Pennsylvania car loans. Check out our Guide to Better Credit for Auto Financing for information about credit scores and tips for quickly raising yours.
Find the Best Deal in Wilkes Barre, PA for Bad Credit Car Loans
A low credit score can raise your car loan rate, so it's more critical than ever to compare lending options and find the right deal in Wilkes Barre, PA. myAutoloan wants to help you find the best loan — despite your credit history. Simply choose 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 choose the best loan for you and visit any dealership in Wilkes Barre with a check in hand.
Need 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 Wilkes Barre, PA!