Do I Have Bad Credit in Washington, DC?
When you apply for a car loan, mortgage, or another type of loan, Washington DC lenders look at your credit score to evaluate the likelihood of you repaying it. Your credit score is calculated using many factors, including the number of open accounts you have, your repayment history, the age of your credit accounts, and any remaining loan balances. While every lender in Washington, DC has its own benchmarks for what it deems a poor credit score, you could be seen as having bad credit if your score falls below 600. Lenders will also be worried if you’ve experienced bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Washington, DC with Low Credit?
You’re not the first car buyer asking, “Can I get a car loan with a credit score of 600 or less?” Yes, you can. Keep in mind, you'll likely face some challenges financing a car with bad credit in Washington, DC. For starters, not every lender feels comfortable giving loans to people with poor or no credit, so you may need to spend some extra time finding a lender willing to work with you. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
When you find a lender in Washington DC, you may learn your loan is impacted by your low credit score. A poor credit score can result in limited borrowing and higher interest rates. High interest rates also mean larger monthly payments and overall loan costs. With our Interest Rate Estimator and Payment Calculator, you can see an estimate for the monthly payment on your Washington loan before you apply.
Concerned about your possible interest rate and monthly payment? You may want to consider boosting your credit score before applying for auto loans in Washington, Washington DC. 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 Poor Credit Car Loans in Washington, DC
A bad credit score can raise your car loan rate, making it more important than ever to compare costs to find the right deal in Washington, DC. At myAutoloan, we want to help you find the best loan — even without the best 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 a time so you can compare rates in minutes. To finish, you can select the right loan for you and head to your local Washington dealership with a loan in hand.
Why wait to get a new ride? Poor credit shouldn't stop you. Apply today through myAutoloan and compare up to four Washington, DC bad credit auto loans!