Do I Have Bad Credit in Lawrence, KS?
When you try to borrow money — like a car loan — lenders in Kansas use your credit score to evaluate the likelihood of you repaying it. Many factors play 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 Lawrence, KS lender has its own benchmarks for what's considered a bad credit score, you may be seen as having bad credit if your score is lower than 600. Lenders will also be nervous if you’ve experienced bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Lawrence, KS with Low Credit?
Many car buyers have asked, “Can I get a car loan with a credit score of 600 or less?” Yes, you can. Keep in mind, you'll likely face some challenges financing a car with bad credit in Lawrence, KS. To begin with, not every lender feels comfortable giving loans to people 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.
Once you find a lender in Kansas, you may see that your low credit score affects your loan. A poor credit score can result in limited borrowing and higher interest rates. This high interest rate will lead to higher monthly payments and more spent over the life of the loan. Our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Lawrence loan could look like before even applying.
Do your potential interest rate and monthly payment have you sweating? You may want to think about boosting your credit score before applying for auto loans in Lawrence, Kansas. 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 Lawrence, KS
A low credit score can raise the rate on your car loan, making it more crucial than ever to compare lending options and find the right deal in Lawrence, KS. myAutoloan wants to help you find the best loan — even without the best credit history. All you have to do is select your offer type and complete or confidential and secure application. You'll see up to four loans at once 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 Lawrence with money in hand.
Need a new ride? Your poor credit doesn’t have to stop you. Apply now and compare up to four bad credit auto loans in Lawrence, KS through myAutoloan!