Do I Have Bad Credit in Mansfield, TX?
When you apply for any type of loan, Texas lenders look at your credit score to determine how likely you are to repay it. Many factors influence your credit score, including the number of open accounts you have, your repayment history, the age of your credit accounts, and any remaining loan balances. While each lender in Mansfield, TX has its own benchmarks for what's considered a bad credit score, you are often seen as having bad credit if your score is less than 600. Lenders will also be worried if you’ve experienced bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Mansfield, TX with Bad 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, financing a car in Mansfield, TX with bad credit won't necessarily be easy. For starters, not every lender feels comfortable giving loans to people with poor or no credit, so you may need to put in extra effort 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 see that your low credit score impacts your loan. A poor credit score can result in limited borrowing and higher interest rates. Higher interest rates will mean larger monthly payments and more spent over the life of the loan. Use our Interest Rate Estimator and Payment Calculator to see what the monthly payment on your Mansfield loan could look like before completing an application.
Do your potential interest rate and monthly payment have you sweating? You may want to consider boosting your credit score before applying for auto loans in Mansfield, Texas. Study our Guide to Better Credit for Auto Financing for information about credit scores and tips for quickly raising yours.
Find the Best Deal in Mansfield, TX for Bad Credit Car Loans
A bad credit score can increase the rate on your car loan, making it more critical than ever to compare costs to find the right deal in Mansfield, TX. myAutoloan wants to help you find the best loan — no matter your credit history. All you need to do is select your offer type and complete or confidential and secure application. You'll see up to four loans at once so you can compare rates in minutes. Then, you can select the best loan for you and head down to your go-to dealership in Mansfield with a check in hand.
Why wait to get a new ride? Bad credit doesn't have to stop you. Apply now and compare up to four bad credit auto loans in Mansfield, TX through myAutoloan!