What Counts as Bad Credit in Temple, TX?
When you try to borrow money — like a car loan — lenders in Texas look at your credit score to evaluate how likely you are to repay 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 Temple, TX has its own benchmarks for what it considers a poor credit score, you may be seen as having bad credit if your score falls below 600. Lenders will also be nervous if you've gone through bankruptcy, repossession, or foreclosure.
Can I Get a Car Loan in Temple, TX If I Have Bad Credit?
Many car buyers have asked, “Can I get a car loan with a credit score of 600 or less?” The short answer is yes. Still, financing a car in Temple, TX with bad credit won't necessarily be easy. For starters, not all lenders are willing to give a loan to someone with no or poor credit, so you may need to put in extra effort to find a lender inclined to work with you. The good news is that myAutoloan partners with lenders specializing in bad credit loans.
When you find a lender in Texas, you may learn your low credit score changes 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 loan costs. Use our Interest Rate Estimator and Payment Calculator to see what the monthly payment on your Temple loan could look like before completing an application.
Do your potential interest rate and monthly payment have you sweating? You might want to consider increasing your credit score before applying for Temple, Texas auto loans. View our Guide to Better Credit for Auto Financing for information about credit scores and tips for quickly raising yours.
Find the Best Deal on Bad Credit Car Loans in Temple, TX
A poor credit score can raise your car loan rate, making it more important than ever to compare lending options and find the right deal in Temple, TX. myAutoloan wants to make sure you find the best loan — even without the best credit history. All you have 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 choose the best loan for you and head to your favorite Temple dealership with a loan 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 Temple, TX bad credit car loans!