What Counts as Bad Credit in Sterling, 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 influence your credit score, including the age of your credit accounts, the number of open accounts you have, any remaining loan balances, and your repayment history. While every Sterling, VA lender will have its own guidelines for what it deems a poor credit score, you may be seen as having bad credit if your score sits under the 600 benchmark. Lenders will also be more cautious if you've experienced repossession, bankruptcy, or foreclosure.
Can I Still Get a Car Loan in Sterling, VA with Low Credit?
You're not the first car buyer to wonder, “Can I get a car loan with a credit score of 600 or less?” The short answer is yes. But, financing a car with bad credit in Sterling, VA will come with some challenges. First off, 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 who will work with you. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
Once you find a lender in Virginia, you may discover your low credit score affects your loan. A poor credit score can limit your borrowing and result in higher interest rates. High interest rates also mean higher monthly payments and total repayment. Use our Interest Rate Estimator and Payment Calculator to see what the monthly payment on your Sterling loan could look like before completing an application.
Worried about your potential interest rate and monthly payment? You should contemplate increasing your credit score before you apply for Sterling, Virginia car loans. Study our Guide to Better Credit for Auto Financing for help understanding and quickly raising 7our credit.
Find the Best Deal on Sterling, VA Poor Credit Car Loans
A bad credit score can increase your car loan rate, so it's more critical than ever to compare costs to find the right deal in Sterling, VA. myAutoloan is here to help you find the best loan — no matter your credit history. All you need to do is select your offer type and complete our secure, confidential application. We'll show you up to four loans at once, allowing you to compare rates in minutes. After, you can choose the best loan for you and head to your favorite Sterling dealership with money in hand.
Ready to purchase a new ride? Bad credit doesn't have to stop you. Apply now and compare up to four bad credit auto loans in Sterling, VA through myAutoloan!