How Do I Know If I Have Bad Credit in Georgetown, TX?
When you borrow money — like a car loan — Texas lenders look at your credit score to figure out the likelihood 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 Georgetown, TX lender has its own criteria for what’s considered a poor credit score, you might be seen as having bad credit if your score sits under the 600 benchmark. Lenders will also be worried if you've experienced repossession, bankruptcy, or foreclosure.
Can I Still Get a Car Loan in Georgetown, TX with Low Credit?
Many borrowers 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 Georgetown, TX. Most notably, not every lender offers poor or no credit loans, so you may need to put in some extra hours to find a lender inclined to work with you. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
When you find a lender in Texas, you may discover your low credit score affects your loan. 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 total repayment. Our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Georgetown loan might look like before you apply.
Do your potential interest rate and monthly payment have you sweating? You should look into improving your credit score before you start applying for auto loans in Georgetown, 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 Bad Credit Car Loans in Georgetown, TX
A poor credit score can raise your car loan rate, so it's more critical than ever to compare costs and find the right loan in Georgetown, TX. myAutoloan wants to help you find the best loan — regardless of your 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 in minutes so you can easily compare rates. Finally, you can select the loan that looks best to you and head to your local Georgetown dealership with a check in hand.
Why wait to get a new ride? Bad credit doesn't have to stop you. Apply today through myAutoloan and compare up to four Georgetown, TX bad credit auto loans!