Compare Bad Credit Car Loans in Elk Grove Village, IL

Don’t let bad credit stop you from purchasing your next car! Apply today and compare up to four loans at once with myAutoloan. Once you’ve found the right financing in Elk Grove Village, head to your favorite Illinois dealership.

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More Information

What Counts as Bad Credit in Elk Grove Village, IL?

When you borrow money — like a car loan — Illinois lenders use your credit score to evaluate the probability that you'll repay it. Many factors influence 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 lender in Elk Grove Village, IL has its own guidelines for what it deems a poor credit score, you might be seen as having bad credit if your score sits under the 600 benchmark. Lenders will also be more cautious if you've gone through bankruptcy, repossession, or foreclosure.

Can I Get a Car Loan in Elk Grove Village, IL If I Have Bad Credit?

You're not the first car buyer to wonder, “Can I get a car loan with a credit score of 600 or less?” The simple answer is yes. Keep in mind, financing a car in Elk Grove Village, IL with bad credit won't necessarily be easy. First off, 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 help with your financing. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.

Once you've chosen a lender in Illinois, you may notice your low credit score impacts your loan. A poor credit score can result in limited borrowing and higher interest rates. High interest rates also mean higher monthly payments and overall loan costs. Tools like our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Elk Grove Village loan might look like before you apply.

Do your potential interest rate and monthly payment have you sweating? You might want to think about boosting your credit score before applying for Elk Grove Village, Illinois auto loans. Check out our Guide to Better Credit for Auto Financing for information about credit scores and tips for quickly raising yours.

Find the Best Deal on Bad Credit Car Loans in Elk Grove Village, IL

A poor credit score can raise your car loan rate, so it's more critical than ever to compare lending options and find the right deal in Elk Grove Village, IL. myAutoloan wants to make sure you find the best loan — despite your credit history. All you have to do is choose 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. To finish, you can select the loan that looks best to you and head to your local Elk Grove Village dealership with a check in hand.

Why wait to get a new ride? Poor credit shouldn't stop you. Apply with myAutoloan today and compare up to four bad credit auto loans in Elk Grove Village, IL!

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