What Is Considered Bad Credit in Dubuque, IA?
When you borrow money — like a car loan — lenders in Iowa look at 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 every lender in Dubuque, IA has its own criteria for what's considered a bad 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’ve experienced bankruptcy, repossession, or foreclosure.
Is it Possible to Get a Car Loan in Dubuque, IA with 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 short answer is yes. Still, financing a car with bad credit in Dubuque, IA will come with some challenges. For starters, not every lender offers poor or no credit loans, so it may take some extra time to find a lender who will work with you. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
Once you find a lender in Iowa, you may learn your loan is impacted by your low credit score. A poor credit score might limit your borrowing and lead to higher interest rates. This high interest rate will also mean higher monthly payments and more spent over the life of the loan. Use our Interest Rate Estimator and Payment Calculator to see an estimate for the monthly payment on your Dubuque loan before completing an application.
Do your potential interest rate and monthly payment have you worried? You may want to look into improving your credit score before you start applying for auto loans in Dubuque, Iowa. Study our Guide to Better Credit for Auto Financing to better understand your credit score and how you can raise it.
Find the Best Deal on Dubuque, IA Poor Credit Car Loans
A low credit score can increase the rate on your car loan, so it's more critical than ever to compare lenders in Dubuque, IA and find the right deal. myAutoloan wants to make sure you find the best loan — regardless of 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. To finish, you can select the loan that looks best to you and head to your favorite Dubuque dealership with a check in hand.
Need a new ride? Bad credit doesn't have to stop you. Apply through myAutoloan now and review up to four Dubuque, IA bad credit car loans!