What Counts as Bad Credit in Newport News, VA?
When you borrow money — like a car loan — Virginia lenders look at your credit score to determine how likely you are to repay it. Many factors play into 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 Newport News, VA lender will have its own guidelines for what’s considered a poor credit score, you might be seen as having bad credit if your score sits under the 600 benchmark. Lenders will also be wary if you've gone through bankruptcy, repossession, or foreclosure.
Can I Get a Car Loan in Newport News, VA 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 simple answer is yes. Still, financing a car with bad credit in Newport News, VA will come with some challenges. 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 willing to work with you. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
When you find a lender in Virginia, you may see that your low credit score changes your loan. You may have limited borrowing power and a higher interest rate due to your poor credit score. This high interest rate will also mean larger monthly payments and more spent over the life of the loan. Tools like our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Newport News loan might be before completing an application.
Worried about your potential interest rate and monthly payment? You should contemplate boosting your credit score before applying for auto loans in Newport News, Virginia. Take a look at our Guide to Better Credit for Auto Financing for help understanding and quickly raising 7our credit.
Find the Best Deal on Bad Credit Car Loans in Newport News, VA
A poor credit score can increase your car loan rate, making it more critical than ever to compare costs to find the right deal in Newport News, VA. At myAutoloan, we want to help you find the best loan — even without the best credit history. All you have to do is select your offer type and complete our secure, confidential application. We’ll show you up to four loans at a time so you can compare rates in minutes. After, you can select the loan that looks best to you and head to your favorite Newport News dealership with a check in hand.
Need a new ride? Poor credit shouldn't stop you. Apply with myAutoloan today and compare up to four bad credit auto loans in Newport News, VA!