What Counts as Bad Credit in Port Arthur, TX?
When you try to borrow money — like a car loan — lenders in Texas use your credit score to figure out the probability that you'll repay it. Many factors influence your credit score, including the age of your credit accounts, the number of open accounts you have, any remaining loan balances, and your repayment history. While every lender in Port Arthur, TX has its own benchmarks for what's considered a bad credit score, you may be seen as having bad credit if you have a score below 600. Lenders will also be wary if you've gone through bankruptcy, repossession, or foreclosure.
Is it Possible to Get a Car Loan in Port Arthur, TX with Bad Credit?
You’re not the first car buyer asking, “Can I get a car loan with a credit score of 600 or less?” The short answer is yes. But, financing a car with bad credit in Port Arthur, TX will come with some challenges. For starters, 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. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
When you find a lender in Texas, you may discover your loan is impacted by your low credit score. A poor credit score can result in limited borrowing and higher interest rates. Higher interest rates will mean higher monthly payments and total repayment. Our Interest Rate Estimator and Payment Calculator can help you see an estimate for the monthly payment on your Port Arthur loan before you apply.
Do your potential interest rate and monthly payment have you sweating? You might want to contemplate increasing your credit score before applying for Port Arthur, Texas auto loans. Check out 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 Port Arthur, TX
A bad credit score can increase the rate on your car loan, making it more crucial than ever to compare lenders in Port Arthur, TX and find the right deal. 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 complete or confidential and secure application. We'll show you up to four loans in minutes so you can easily compare rates. Then, you can select the best loan for you and head to your local Port Arthur dealership with money in hand.
Why wait to get a new ride? Poor credit shouldn't stop you. Apply with myAutoloan today and compare up to four bad credit auto loans in Port Arthur, TX!