What Counts as Bad Credit in Fairfax, VA?
When you try to borrow money — like a car loan — Virginia lenders look at your credit score to evaluate the likelihood of you repaying it. Your credit score is calculated using many factors, including the number of open accounts you have, your repayment history, the age of your credit accounts, and any remaining loan balances. While every lender in Fairfax, VA has its own benchmarks for what it considers a poor credit score, you could be seen as having bad credit if your score is lower than 600. Lenders will also be worried if you've gone through bankruptcy, repossession, or foreclosure.
Is it Possible to Get a Car Loan in Fairfax, VA with Bad Credit?
You're not the first car buyer to wonder, “Can I get a car loan with a credit score of 600 or less?” Yes, you can. But, financing a car in Fairfax, VA with bad credit won't necessarily be easy. First off, not every lender offers poor or no credit loans, so it may take some extra time to find a lender willing to work with you. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
Once you've found a lender in Virginia, you may notice your low credit score impacts 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. With our Interest Rate Estimator and Payment Calculator, you can see an estimate for the monthly payment on your Fairfax loan before filling out an application.
Do your potential interest rate and monthly payment have you worried? You may want to think about boosting your credit score before applying for Fairfax, Virginia auto loans. Study our Guide to Better Credit for Auto Financing to learn about credit scores and how you can quickly raise yours.
Find the Best Deal on Poor Credit Car Loans in Fairfax, VA
A low credit score can increase your car loan rate, so it's more critical than ever to compare costs and find the right loan in Fairfax, VA. myAutoloan wants to make sure you find the best loan — no matter your credit history. All you have to do is choose 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. To finish, you can choose the best loan for you and head to your favorite Fairfax dealership with a check in hand.
Why wait to get a new ride? Bad credit doesn't have to stop you. Apply with myAutoloan today and compare up to four bad credit auto loans in Fairfax, VA!