How Do I Know If I Have Bad Credit in Radford, VA?
When you borrow money — like a car loan — Virginia lenders use your credit score to evaluate the probability that you'll repay it. Many factors play into your credit score, including your repayment history, the number of accounts you have open, the age of your credit accounts, and any remaining loan balances. While every Radford, VA lender has its own benchmarks for what's considered a bad credit score, you may be seen as having bad credit if your score is lower than 600. Lenders will also be more cautious if you've gone through bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Radford, 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, financing a car with bad credit in Radford, VA will come with some challenges. Most notably, not every lender feels comfortable giving loans to people with poor or no credit, so you may need to put in some extra hours to find a lender inclined to work with you. Luckily, myAutoloan partners with lenders specializing in bad credit car loans.
Once you've chosen a lender in Virginia, you may discover your low credit score changes your loan. A poor credit score can limit your borrowing and result in higher interest rates. Higher interest rates will mean higher monthly payments and overall repayment. With our Interest Rate Estimator and Payment Calculator, you can see an estimate for the monthly payment on your Radford loan before filling out an application.
Worried about your potential interest rate and monthly payment? You might want to think about boosting your credit score before applying for Radford, Virginia auto loans. Check out our Guide to Better Credit for Auto Financing for information about credit scores and tips for quickly raising yours.
Find the Best Deal in Radford, VA for Bad Credit Car Loans
A bad credit score can increase the rate on your car loan, making it more critical than ever to compare costs and find the right loan in Radford, VA. myAutoloan wants to help you find the best loan — regardless of your credit history. Simply choose your offer type and complete a confidential, secure application. We’ll show you up to four loans at a time so you can compare rates in minutes. Then, you can select the right loan for you and head to your favorite Radford dealership with a loan in hand.
Why wait to get a new ride? Your poor credit doesn’t have to stop you. Apply with myAutoloan today and compare up to four bad credit auto loans in Radford, VA!