What Is Considered Bad Credit in Bentonville, AR?
When you apply for a car loan, mortgage, or another type of loan, Arkansas lenders use your credit score to decide the probability that you'll repay it. Many factors go into your credit score, including any remaining loan balances, your repayment history, the number of open accounts you have, and the age of your credit accounts. While each Bentonville, AR lender has its own guidelines for what's considered a low credit score, you may be seen as having bad credit if your score is less than 600. Lenders will also be more cautious if you have a history of bankruptcy, foreclosure, or repossession.
Can I Get a Car Loan in Bentonville, AR If I Have Bad Credit?
Many car buyers have asked, “Can I get a car loan with a credit score of 600 or less?” The short answer? Yes. Keep in mind, financing a car in Bentonville, AR with bad credit won't necessarily be easy. For starters, not every lender is willing to give a loan to someone with poor or no credit, so it may take some extra time to find a lender who will work with you. Luckily, myAutoloan partners with lenders specializing in bad credit car loans.
When you find a lender in Arkansas, you may learn your low credit score changes your loan. You may have limited borrowing power and a higher interest rate due to your poor credit score. Higher interest rates will mean higher monthly payments and overall repayment. Use our Interest Rate Estimator and Payment Calculator to see what the monthly payment on your Bentonville loan might be before completing an application.
Do your potential interest rate and monthly payment have you worried? You might want to look into raising your credit score before applying for auto loans in Bentonville, Arkansas. Check out our Guide to Better Credit for Auto Financing to better understand your credit score and how you can raise it.
Find the Best Deal in Bentonville, AR for Bad Credit Car Loans
A low credit score can raise your car loan rate, making it more important than ever to compare lenders in Bentonville, AR and find the right deal. myAutoloan is here to help you find the best loan — even without the best credit history. Simply choose 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. Finally, you can select the right loan for you and head to your local Bentonville dealership with a check in hand.
Need a new ride? Bad credit doesn't have to stop you. Apply now and compare up to four bad credit auto loans in Bentonville, AR through myAutoloan!