Do I Have Bad Credit in Knoxville, TN?
When you apply for a car loan, mortgage, or another type of loan, lenders in Tennessee use your credit score to evaluate the chances of you repaying it. Many factors play 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 lender in Knoxville, TN will have its own guidelines for what's considered a bad credit score, you might be seen as having bad credit if your score is lower than 600. Lenders will also be nervous if you've gone through bankruptcy, repossession, or foreclosure.
Can I Get a Car Loan in Knoxville, TN 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?” The short answer is yes. Keep in mind, financing a car in Knoxville, TN with bad credit won't necessarily be easy. To begin with, not every lender offers poor or no credit loans, so it may take some extra time to find a lender inclined to work with you. Thankfully, myAutoloan has lending partners that specialize in bad credit 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 can limit your borrowing and result in higher interest rates. High interest rates also mean higher monthly payments and more spent over the life of the loan. Tools like our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Knoxville loan might be before even applying.
Worried about your potential interest rate and monthly payment? You might want to consider increasing your credit score before you apply for Knoxville, Tennessee car loans. Study our Guide to Better Credit for Auto Financing to better understand your credit score and how you can raise it.
Find the Best Deal on Poor Credit Car Loans in Knoxville, TN
A poor credit score can raise the rate on your car loan, so it's more critical than ever to compare costs and find the right loan in Knoxville, TN. myAutoloan is here to help you find the best loan — despite your credit history. All you have to do is choose your offer type and complete our secure, confidential application. We'll show you up to four loans at once, allowing you to compare rates in minutes. Finally, you can select the best loan for you and head to your local Knoxville dealership with cash in hand.
Ready to purchase a new ride? Your poor credit doesn’t have to stop you. Apply today through myAutoloan and compare up to four Knoxville, TN bad credit auto loans!