Do I Have Bad Credit in Staunton, VA?
When you apply for a car loan, mortgage, or another type of loan, Virginia lenders look at your credit score to decide the likelihood 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 Staunton, VA has its own criteria for what it deems a poor credit score, you could be seen as having bad credit if your score is less than 600. Lenders will also be nervous if you've gone through bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Staunton, VA with Bad Credit?
Many car buyers have asked, “Can I get a car loan with a credit score of 600 or less?” Yes, you can. But, financing a car in Staunton, VA with bad credit won't necessarily be easy. First off, not all lenders are willing to give a loan to someone with no or poor credit, so it may take some extra time to find a lender who will work with you. Luckily, myAutoloan partners with lenders specializing in bad credit car loans.
Once you find a lender in Virginia, you may see that your low credit score changes your loan. A poor credit score might limit your borrowing and lead to higher interest rates. High interest rates also mean larger monthly payments and overall repayment. With our Interest Rate Estimator and Payment Calculator, you can see what the monthly payment on your Staunton loan might be before completing an application.
Do your potential interest rate and monthly payment have you worried? You should look into boosting your credit score before applying for auto loans in Staunton, Virginia. Take a look at our Guide to Better Credit for Auto Financing for information about credit scores and tips for quickly raising yours.
Find the Best Deal on Staunton, VA Poor Credit Car Loans
A bad credit score can raise your car loan rate, making it more important than ever to compare lending options and find the right deal in Staunton, VA. myAutoloan wants to make sure you find the best loan — even without the best credit history. Simply choose your offer type and complete a confidential, secure application. We'll show you up to four loans in minutes so you can easily compare rates. After, you can select the right loan for you and visit any dealership in Staunton with cash in hand.
Ready to purchase 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 Staunton, VA!