What Counts as Bad Credit in Wytheville, VA?
When you borrow money — like a car loan — lenders in Virginia use your credit score to decide how likely you are to repay it. Your credit score is calculated using many factors, including your repayment history, the number of accounts you have open, the age of your credit accounts, and any remaining loan balances. While each Wytheville, VA lender has its own benchmarks for what’s considered a poor credit score, you are often seen as having bad credit if your score is lower than 600. Lenders will also be nervous if you've experienced repossession, bankruptcy, or foreclosure.
Can I Still Get a Car Loan in Wytheville, 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. However, financing a car in Wytheville, VA with bad credit won't necessarily be easy. 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 who will work with you. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
When you find a lender in Virginia, you may notice your low credit score affects your loan. You may have limited borrowing power and a higher interest rate due to your poor credit score. This high interest rate will lead to higher monthly payments and total repayment. With our Interest Rate Estimator and Payment Calculator, you can see what the monthly payment on your Wytheville loan could look like before filling out an application.
Worried about your potential interest rate and monthly payment? You may want to think about boosting your credit score before applying for auto loans in Wytheville, Virginia. Take a look at our Guide to Better Credit for Auto Financing to better understand your credit score and how you can raise it.
Find the Best Deal on Wytheville, VA Poor Credit Car Loans
A bad credit score can raise your car loan rate, making it more important than ever to compare costs and find the right loan in Wytheville, VA. myAutoloan is here to help you find the best loan — despite your credit history. All you need to do is select your offer type and complete a confidential, secure application. You'll see up to four loans at once so you can compare rates in minutes. After, you can select the best loan for you and visit any dealership in Wytheville with a check in hand.
Why wait to get a new ride? Bad credit doesn't have to stop you. Apply today through myAutoloan and compare up to four Wytheville, VA bad credit auto loans!