What Counts as Bad Credit in Clive, IA?
When you borrow money — like a car loan — lenders in Iowa use your credit score to decide the likelihood of you repaying it. Many factors go into your credit score, including the age of your credit accounts, the number of open accounts you have, any remaining loan balances, and your repayment history. While every lender in Clive, IA has its own benchmarks for what it considers a poor credit score, you may be seen as having bad credit if your score sits under the 600 benchmark. Lenders will also be nervous if you've experienced repossession, bankruptcy, or foreclosure.
Is it Possible to Get a Car Loan in Clive, IA with Bad Credit?
Many car buyers have asked, “Can I get a car loan with a credit score of 600 or less?” Yes, you can. However, financing a car with bad credit in Clive, IA will come with some challenges. 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 inclined to work with you. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
When you find a lender in Iowa, you may learn your low credit score impacts your loan. 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 overall loan costs. With our Interest Rate Estimator and Payment Calculator, you can see what the monthly payment on your Clive loan could look like before you apply.
Worried about your potential interest rate and monthly payment? You may want to contemplate improving your credit score before you start applying for auto loans in Clive, Iowa. Take a look at 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 Clive, IA
A low credit score can raise your car loan rate, making it more important than ever to compare lenders in Clive, IA and find the right deal. myAutoloan wants to make sure you find the best loan — no matter your credit history. All you need to do is select your offer type and fill out our secure, confidential application. We’ll show you up to four loans at a time so you can compare rates in minutes. Finally, you can select the right loan for you and head down to your go-to dealership in Clive with a loan in hand.
Ready to purchase your next ride? Your poor credit doesn’t have to stop you. Apply today through myAutoloan and compare up to four Clive, IA bad credit auto loans!