Do I Have Bad Credit in Ashland, OH?
When you apply for any type of loan, Ohio lenders use your credit score to determine the likelihood of you repaying it. Your credit score is calculated using many factors, including the age of your credit accounts, the number of open accounts you have, any remaining loan balances, and your repayment history. While every Ashland, OH lender has its own criteria for what’s considered a poor credit score, you might be seen as having bad credit if you have a score below 600. Lenders will also be nervous if you have a history of bankruptcy, foreclosure, or repossession.
Can I Still Get a Car Loan in Ashland, 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?” The short answer? Yes. However, it's going to be harder to finance a car with bad credit in Ashland, OH. First off, not all lenders are willing to give a loan to someone with no or poor credit, so you may need to put in some extra hours to find a lender willing 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 Ohio, you may learn your low credit score affects your loan. A poor credit score can limit your borrowing and result in higher interest rates. This high interest rate will lead to higher monthly payments and more spent over the life of the loan. Our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Ashland loan might be before completing an application.
Do your potential interest rate and monthly payment have you worried? You might want to contemplate boosting your credit score before you apply for Ashland, Ohio car loans. Check out our Guide to Better Credit for Auto Financing for help understanding and quickly raising 7our credit.
Find the Best Deal on Ashland, OH Poor Credit Car Loans
A poor credit score can raise your car loan rate, so it's more critical than ever to compare costs and find the right loan in Ashland, OH. myAutoloan wants to help you find the best loan — even without the best credit history. All you have to do is select your offer type and complete or confidential and secure application. We’ll show you up to four loans at a time so you can compare rates in minutes. Finally, you can select the loan that looks best to you and head down to your go-to dealership in Ashland with cash in hand.
Ready to purchase your next ride? Poor credit shouldn't stop you. Apply with myAutoloan today and compare up to four bad credit auto loans in Ashland, OH!