What Counts as Bad Credit in Akron, OH?
When you apply for a car loan, mortgage, or another type of loan, Ohio lenders look at your credit score to evaluate the probability that you'll repay 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 lender in Akron, OH has its own guidelines for what it considers a poor credit score, you may be seen as having bad credit if your score sits under the 600 benchmark. Lenders will also be nervous if you've gone through bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Akron, OH with Bad Credit?
You’re not the first car buyer asking, “Can I get a car loan with a credit score of 600 or less?” Yes, you can. But, financing a car in Akron, OH with bad credit won't necessarily be easy. For starters, not every lender offers poor or no credit loans, so you may need to put in extra effort to find a lender inclined to work with you. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
Once you find a lender in Ohio, you may discover your low credit score impacts your loan. A poor credit score can result in limited borrowing and higher interest rates. Higher interest rates will mean larger monthly payments and overall loan costs. Our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Akron loan might look like before even applying.
Do your potential interest rate and monthly payment have you sweating? You should think about raising your credit score before you apply for Akron, Ohio car loans. Study 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 Akron, OH
A low credit score can increase your car loan rate, making it more important than ever to compare lenders in Akron, OH and find the right deal. myAutoloan is here to help you find the best loan — even without the best credit history. Simply choose 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 best loan for you and head to your favorite Akron dealership with money in hand.
Ready to purchase your next ride? Bad credit doesn't have to stop you. Apply through myAutoloan now and review up to four Akron, OH bad credit car loans!