How Do I Know If I Have Bad Credit in Athens, TX?
When you apply for any type of loan, lenders in Texas use your credit score to figure out the likelihood of you repaying 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 every lender in Athens, TX will have its own guidelines for what it deems a poor credit score, you are often seen as having bad credit if your score is less than 600. Lenders will also be more cautious if you've experienced repossession, bankruptcy, or foreclosure.
Can I Still Get a Car Loan in Athens, TX with Bad Credit?
Many car buyers have asked, “Can I get a car loan with a credit score of 600 or less?” The short answer? Yes. But, you'll likely face some challenges financing a car with bad credit in Athens, TX. 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 work with you. Luckily, myAutoloan partners with lenders specializing in bad credit car loans.
When you find a lender in Texas, you may discover your loan is impacted by your low credit score. A poor credit score might limit your borrowing and lead to higher interest rates. This high interest rate will lead to higher monthly payments and overall repayment. Our Interest Rate Estimator and Payment Calculator can help you see an estimate for the monthly payment on your Athens loan before filling out an application.
Do your potential interest rate and monthly payment have you worried? You may want to contemplate raising your credit score before you start applying for auto loans in Athens, Texas. View our Guide to Better Credit for Auto Financing to better understand your credit score and how you can raise it.
Find the Best Deal in Athens, TX 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 Athens, TX. myAutoloan wants to help you find the best loan — even without the best credit history. All you have to do is select your offer type and complete our secure, confidential application. You'll see up to four loans at once so you can compare rates in minutes. Then, you can choose the best loan for you and visit any dealership in Athens with cash in hand.
Need a new ride? Bad credit doesn't have to get in the way. Apply through myAutoloan now and review up to four Athens, TX bad credit car loans!