What Counts as Bad Credit in Ashland, KY?
When you borrow money — like a car loan — lenders in Kentucky look at your credit score to evaluate the chances of you repaying it. Many factors go into your credit score, including your repayment history, the number of accounts you have open, the age of your credit accounts, and any remaining loan balances. While every lender in Ashland, KY has its own guidelines 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 wary if you've experienced repossession, bankruptcy, or foreclosure.
Can I Still Get a Car Loan in Ashland, KY with Low Credit?
You’re not the first car buyer asking, “Can I get a car loan with a credit score of 600 or less?” The simple answer is yes. Still, financing a car in Ashland, KY with bad credit won't necessarily be easy. 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 inclined to work with you. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
When you find a lender in Kentucky, you may learn your low credit score changes your loan. You may have limited borrowing power and a higher interest rate due to your poor credit score. This high interest rate will also mean higher monthly payments and more spent over the life of the loan. With our Interest Rate Estimator and Payment Calculator, you can see what the monthly payment on your Ashland loan might be before completing an application.
Worried about your potential interest rate and monthly payment? You might want to contemplate raising your credit score before applying for Ashland, Kentucky auto loans. Check out our Guide to Better Credit for Auto Financing for help understanding and quickly raising 7our credit.
Find the Best Deal in Ashland, KY for Bad Credit Car Loans
A bad credit score can increase your car loan rate, so it's more critical than ever to compare lenders in Ashland, KY and find the right deal. myAutoloan wants to help you find the best loan — even without the best credit history. All you need to do is select your offer type and complete our secure, confidential application. We'll show you up to four loans at once, allowing you to compare rates in minutes. After, you can select the best loan for you and head to your favorite Ashland dealership with money in hand.
Need a new ride? Bad credit doesn't have to stop you. Apply now and compare up to four bad credit auto loans in Ashland, KY through myAutoloan!