What Counts as Bad Credit in Garland, TX?
When you borrow money — like a car loan — lenders in Texas look at your credit score to decide the chances of you repaying it. Many factors influence 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 every lender in Garland, TX has its own criteria for what it deems a poor credit score, you might be seen as having bad credit if your score falls below 600. Lenders will also be more cautious if you’ve experienced bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Garland, TX with Bad Credit?
Many borrowers have asked, “Can I get a car loan with a credit score of 600 or less?” The short answer? Yes. However, financing a car with bad credit in Garland, TX will come with some challenges. To begin with, not every lender is willing to give a loan to someone with poor or no credit, so it may take some extra time to find a lender inclined to work with you. The good news is that myAutoloan partners with lenders specializing in bad credit loans.
Once you've found a lender in Texas, you may notice 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. With our Interest Rate Estimator and Payment Calculator, you can see what the monthly payment on your Garland loan might look like before you apply.
Do your potential interest rate and monthly payment have you worried? You might want to consider boosting your credit score before applying for auto loans in Garland, Texas. View our Guide to Better Credit for Auto Financing for information about credit scores and tips for quickly raising yours.
Find the Best Deal in Garland, TX for Bad Credit Car Loans
A bad credit score can increase the rate on your car loan, so it's more critical than ever to compare costs to find the right deal in Garland, TX. myAutoloan wants to make sure you find the best loan — despite your credit history. All you have to do is select your offer type and fill out our secure, confidential application. We’ll show you up to four loans at a time so you can compare rates in minutes. After, you can select the best loan for you and head down to your go-to dealership in Garland with cash in hand.
Ready to purchase your next ride? Bad credit doesn't have to stop you. Apply today through myAutoloan and compare up to four Garland, TX bad credit auto loans!