What Is Considered Bad Credit in Helena, MT?
When you apply for a car loan, mortgage, or another type of loan, lenders in Montana look at your credit score to figure out how likely you are to repay it. Many factors play 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 Helena, MT lender has its own benchmarks for what's considered a bad credit score, you could be seen as having bad credit if your score sits under the 600 benchmark. Lenders will also be wary if you've gone through bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Helena, MT 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 short answer? Yes. However, you'll likely face some challenges financing a car with bad credit in Helena, MT. Most notably, not every lender is willing to give a loan to someone with poor or no credit, so you may need to put in extra effort to find a lender who will help with your financing. The good news is that myAutoloan partners with lenders specializing in bad credit loans.
When you find a lender in Montana, you may see that your low credit score changes your loan. A poor credit score can limit your borrowing and result in higher interest rates. This high interest rate will also mean larger 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 Helena loan might be before completing an application.
Do your potential interest rate and monthly payment have you worried? You should contemplate boosting your credit score before you apply for Helena, Montana car loans. 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 Helena, MT
A poor credit score can increase the rate on your car loan, making it more crucial than ever to compare lenders in Helena, MT and find the right deal. At myAutoloan, we want to help 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. We'll show you up to four loans in minutes so you can easily compare rates. Then, you can select the best loan for you and visit any dealership in Helena with cash in hand.
Why wait to get a new ride? Bad credit doesn't have to stop you. Apply today through myAutoloan and compare up to four Helena, MT bad credit auto loans!