Do I Have Bad Credit in College Station, TX?
When you try to borrow money — like a car loan — Texas lenders use your credit score to determine the chances of you repaying it. Your credit score is calculated using many factors, including the age of your credit accounts, the number of open accounts you have, any remaining loan balances, and your repayment history. While each lender in College Station, TX has its own benchmarks for what it considers 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 have a history of bankruptcy, foreclosure, or repossession.
Can I Still Get a Car Loan in College Station, TX 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. Keep in mind, you'll likely face some challenges financing a car with bad credit in College Station, TX. To begin with, not every lender is willing to give a loan to someone with poor or no credit, so you may need to spend some extra time finding a lender willing to work with you. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
When you find a lender in Texas, you may notice your loan is impacted by your low credit score. A poor credit score can result in limited borrowing and higher interest rates. This high interest rate will also mean higher monthly payments and overall loan costs. Our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your College Station loan might look like before you apply.
Do your potential interest rate and monthly payment have you worried? You might want to think about raising your credit score before applying for auto loans in College Station, 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 on Poor Credit Car Loans in College Station, TX
A bad credit score can increase your car loan rate, making it more important than ever to compare lenders in College Station, TX and find the right deal. myAutoloan is here to help you find the best loan — regardless of your credit history. Simply choose your offer type and fill out our secure, confidential application. You'll see up to four loans at once so you can compare rates in minutes. After, you can select the best loan for you and visit any dealership in College Station with money in hand.
Ready to purchase your next ride? Bad credit doesn't have to get in the way. Apply through myAutoloan now and review up to four College Station, TX bad credit car loans!