What Counts as Bad Credit in Bettendorf, IA?
When you apply for a car loan, mortgage, or another type of loan, Iowa lenders use your credit score to determine how likely you are to repay it. Many factors play into your credit score, including the number of open accounts you have, your repayment history, the age of your credit accounts, and any remaining loan balances. While each lender in Bettendorf, IA will have its own guidelines for what's considered a low credit score, you may be seen as having bad credit if your score falls below 600. Lenders will also be nervous if you've gone through bankruptcy, repossession, or foreclosure.
Is it Possible to Get a Car Loan in Bettendorf, IA with Bad Credit?
Many borrowers have asked, “Can I get a car loan with a credit score of 600 or less?” The short answer is yes. Still, you'll likely face some challenges financing a car with bad credit in Bettendorf, IA. For starters, not all lenders are willing to give a loan to someone with no or poor credit, so you may need to put in extra effort to find a lender who will work with you. The good news is that myAutoloan partners with lenders specializing in bad credit loans.
Once you've chosen a lender in Iowa, you may notice your loan is impacted by your low credit score. A poor credit score can limit your borrowing and result in higher interest rates. This high interest rate will also mean higher monthly payments and total repayment. Our Interest Rate Estimator and Payment Calculator can help you see an estimate for the monthly payment on your Bettendorf loan before completing an application.
Worried about your potential interest rate and monthly payment? You should look into increasing your credit score before applying for auto loans in Bettendorf, Iowa. 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 Bettendorf, IA for Bad Credit Car Loans
A low credit score can increase your car loan rate, making it more critical than ever to compare costs and find the right loan in Bettendorf, IA. At myAutoloan, we want to help you find the best loan — no matter your credit history. All you have to do is select your offer type and fill out our secure, confidential application. You'll see up to four loans at once so you can compare rates in minutes. Then, you can select the loan that looks best to you and head to your local Bettendorf dealership with a loan in hand.
Why wait to get a new ride? Your poor credit doesn’t have to stop you. Apply today through myAutoloan and compare up to four Bettendorf, IA bad credit auto loans!