What Counts as Bad Credit in Kansas City, MO?
When you apply for a car loan, mortgage, or another type of loan, Missouri lenders look at your credit score to figure out the probability that you'll repay 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 each Kansas City, MO lender will have its own guidelines for what's considered a low credit score, you are often seen as having bad credit if your score is lower than 600. Lenders will also be more cautious if you've experienced repossession, bankruptcy, or foreclosure.
Can I Still Get a Car Loan in Kansas City, MO with Low Credit?
Many car buyers have asked, “Can I get a car loan with a credit score of 600 or less?” The short answer? Yes. But, you'll likely face some challenges financing a car with bad credit in Kansas City, MO. Most notably, not every lender offers poor or no credit loans, so you may need to spend some extra time finding a lender willing to work with you. Luckily, myAutoloan partners with lenders specializing in bad credit car loans.
When you find a lender in Missouri, you may notice your loan is impacted by your low credit score. A poor credit score can result in limited borrowing and higher interest rates. This high interest rate will lead to larger monthly payments and overall repayment. Use our Interest Rate Estimator and Payment Calculator to see what the monthly payment on your Kansas City loan might look like before filling out an application.
Do your potential interest rate and monthly payment have you worried? You might want to think about increasing your credit score before applying for auto loans in Kansas City, Missouri. Take a look at our Guide to Better Credit for Auto Financing to learn about credit scores and how you can quickly raise yours.
Find the Best Deal on Bad Credit Car Loans in Kansas City, MO
A bad credit score can raise the rate on your car loan, making it more crucial than ever to compare costs and find the right loan in Kansas City, MO. myAutoloan wants to help you find the best loan — regardless of your credit history. Simply choose your offer type and complete our secure, confidential application. You'll see up to four loans at once so you can compare rates in minutes. Then, you can choose the best loan for you and head to your favorite Kansas City dealership with a check in hand.
Ready to purchase your next ride? Your poor credit doesn’t have to stop you. Apply now and compare up to four bad credit auto loans in Kansas City, MO through myAutoloan!