What Counts as Bad Credit in Herndon, VA?
When you borrow money — like a car loan — lenders in Virginia use your credit score to decide the chances of you repaying it. Your credit score is calculated using many factors, including any remaining loan balances, your repayment history, the number of open accounts you have, and the age of your credit accounts. While each lender in Herndon, VA has its own guidelines for what it deems a poor credit score, you are often seen as having bad credit if your score is lower than 600. Lenders will also be nervous if you’ve experienced bankruptcy, repossession, or foreclosure.
Is it Possible to Get a Car Loan in Herndon, VA 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? Yes. Still, it's going to be harder to finance a car with bad credit in Herndon, VA. For starters, not every lender is willing to give a loan to someone with poor or no credit, so you may need to put in extra effort to find a lender inclined to work with you. Luckily, myAutoloan partners with lenders specializing in bad credit car loans.
Once you've found a lender in Virginia, you may see that your loan is impacted by your low credit score. A poor credit score might limit your borrowing and lead to higher interest rates. Higher interest rates will mean larger monthly payments and more spent over the life of the loan. Our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Herndon loan could look like before even applying.
Concerned about your possible interest rate and monthly payment? You may want to look into improving your credit score before applying for Herndon, Virginia auto loans. Check out 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 Herndon, VA
A poor credit score can increase the rate on your car loan, making it more important than ever to compare costs to find the right deal in Herndon, VA. myAutoloan wants to make sure you find the best loan — despite your credit history. All you have to do is choose your offer type and complete our secure, confidential application. You'll see up to four loans at once so you can compare rates in minutes. Finally, you can select the right loan for you and head to your local Herndon dealership with a check in hand.
Ready to purchase a new ride? Bad credit doesn't have to stop you. Apply today through myAutoloan and compare up to four Herndon, VA bad credit auto loans!