What Is Considered Bad Credit in Dexter, MO?
When you try to borrow money — like a car loan — Missouri lenders look at your credit score to decide the likelihood of you repaying it. Your credit score is calculated using many factors, including your repayment history, the number of accounts you have open, the age of your credit accounts, and any remaining loan balances. While every Dexter, MO lender has its own guidelines for what’s considered a poor credit score, you could be seen as having bad credit if your score is less than 600. Lenders will also be worried if you’ve experienced bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Dexter, MO with Low 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 simple answer is yes. But, you'll likely face some challenges financing a car with bad credit in Dexter, MO. To begin with, not every lender is willing to give a loan to someone with poor or no credit, so you may need to spend some extra time finding a lender inclined to work with you. The good news is that myAutoloan partners with lenders specializing in bad credit loans.
Once you've chosen a lender in Missouri, you may discover your loan is impacted by your low credit score. A poor credit score might limit your borrowing and lead to higher interest rates. High interest rates also mean higher monthly payments and overall loan costs. With our Interest Rate Estimator and Payment Calculator, you can see an estimate for the monthly payment on your Dexter loan before you apply.
Worried about your potential interest rate and monthly payment? You might want to look into increasing your credit score before you apply for Dexter, Missouri car loans. Study 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 Dexter, MO
A bad credit score can increase the rate on your car loan, making it more crucial than ever to compare costs to find the right deal in Dexter, MO. myAutoloan wants to make sure you find the best loan — regardless of your credit history. Simply choose 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. Then, you can choose the best loan for you and head to your favorite Dexter dealership with cash in hand.
Ready to purchase your next ride? Your poor credit doesn’t have to stop you. Apply through myAutoloan now and review up to four Dexter, MO bad credit car loans!