How Do I Know If I Have Bad Credit in Cookeville, TN?
When you apply for a car loan, mortgage, or another type of loan, Tennessee lenders use your credit score to decide the probability that you'll repay it. Many factors go into 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 each Cookeville, TN lender has its own criteria for what it considers a poor credit score, you might be seen as having bad credit if your score falls below 600. Lenders will also be worried if you've experienced repossession, bankruptcy, or foreclosure.
Can I Still Get a Car Loan in Cookeville, TN with Low Credit?
Many car buyers have asked, “Can I get a car loan with a credit score of 600 or less?” Yes, you can. But, you'll likely face some challenges financing a car with bad credit in Cookeville, TN. Most notably, not every lender offers poor or no credit loans, so you may need to put in extra effort to find a lender willing to work with you. Luckily, myAutoloan partners with lenders specializing in bad credit car loans.
Once you've found a lender in Tennessee, you may learn your loan is impacted by your low credit score. A poor credit score might limit your borrowing and lead to higher interest rates. High interest rates also mean higher monthly payments and total repayment. Our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Cookeville loan might be before completing an application.
Concerned about your possible interest rate and monthly payment? You may want to think about improving your credit score before you start applying for auto loans in Cookeville, Tennessee. 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 on Cookeville, TN Poor Credit Car Loans
A low credit score can raise your car loan rate, making it more critical than ever to compare costs to find the right deal in Cookeville, TN. myAutoloan wants to help you find the best loan — even without the best 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 once, allowing you to compare rates in minutes. After, you can choose the best loan for you and visit any dealership in Cookeville with money in hand.
Why wait to get a new ride? Poor credit shouldn't stop you. Apply today through myAutoloan and compare up to four Cookeville, TN bad credit auto loans!