How Do I Know If I Have Bad Credit in Virginia Beach, VA?
When you apply for any type of loan, lenders in Virginia use your credit score to determine the likelihood of you repaying it. Many factors go 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 Virginia Beach, VA lender has its own benchmarks for what it considers a poor credit score, you may be seen as having bad credit if your score is less than 600. Lenders will also be worried if you have a history of bankruptcy, foreclosure, or repossession.
Can I Still Get a Car Loan in Virginia Beach, VA with Low Credit?
Many borrowers have asked, “Can I get a car loan with a credit score of 600 or less?” The short answer? Yes. Still, you'll likely face some challenges financing a car with bad credit in Virginia Beach, VA. Most notably, not every lender offers poor or no credit loans, so it may take some extra time to find a lender willing to work with you. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
Once you've chosen a lender in Virginia, you may discover your loan is impacted by your low credit score. A poor credit score might limit your borrowing and lead to higher interest rates. Higher interest rates will mean higher monthly payments and overall repayment. Tools like our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Virginia Beach loan could look like before filling out an application.
Do your potential interest rate and monthly payment have you worried? You may want to contemplate increasing your credit score before applying for auto loans in Virginia Beach, Virginia. View our Guide to Better Credit for Auto Financing for information about credit scores and tips for quickly raising yours.
Find the Best Deal on Virginia Beach, VA Poor Credit Car Loans
A bad credit score can increase the rate on your car loan, making it more crucial than ever to compare lenders in Virginia Beach, VA and find the right deal. myAutoloan is here to help you find the best loan — despite your credit history. All you have to do is select your offer type and fill out our secure, confidential application. We'll show you up to four loans at once, allowing you to compare rates in minutes. To finish, you can select the loan that looks best to you and head down to your go-to dealership in Virginia Beach with a check 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 Virginia Beach, VA!