What Counts as Bad Credit in Suffolk, VA?
When you apply for a car loan, mortgage, or another type of loan, Virginia lenders use your credit score to decide the chances of you repaying 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 Suffolk, VA lender has its own guidelines for what's considered a bad credit score, you could be seen as having bad credit if your score is less than 600. Lenders will also be wary if you have a history of bankruptcy, foreclosure, or repossession.
Can I Get a Car Loan in Suffolk, 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?” Yes, you can. However, it's going to be harder to finance a car with bad credit in Suffolk, VA. For starters, not every lender feels comfortable giving loans to people 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 find a lender in Virginia, you may see that your low credit score impacts your loan. A poor credit score can limit your borrowing and result in higher interest rates. High interest rates also mean larger monthly payments and total repayment. Our Interest Rate Estimator and Payment Calculator can help you see an estimate for the monthly payment on your Suffolk loan before filling out an application.
Worried about your potential interest rate and monthly payment? You may want to think about raising your credit score before you apply for Suffolk, Virginia car loans. Take a look at our Guide to Better Credit for Auto Financing for help understanding and quickly raising 7our credit.
Find the Best Deal in Suffolk, VA for Bad Credit Car Loans
A bad credit score can increase your car loan rate, making it more crucial than ever to compare costs to find the right deal in Suffolk, VA. myAutoloan wants to make sure you find the best loan — even without the best credit history. All you have to do is 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 down to your go-to dealership in Suffolk with money in hand.
Ready to purchase a new ride? Bad credit doesn't have to get in the way. Apply today through myAutoloan and compare up to four Suffolk, VA bad credit auto loans!