Do I Have Bad Credit in Butler, OH?
When you borrow money — like a car loan — Ohio lenders look at your credit score to decide the probability that you'll repay it. Many factors go 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 lender in Butler, OH has its own criteria for what it deems a poor credit score, you are often seen as having bad credit if you have a score below 600. Lenders will also be more cautious if you've experienced repossession, bankruptcy, or foreclosure.
Can I Still Get a Car Loan in Butler, OH with Bad Credit?
Many borrowers have asked, “Can I get a car loan with a credit score of 600 or less?” The simple answer is yes. Still, it's going to be harder to finance a car with bad credit in Butler, OH. To begin with, not every lender feels comfortable giving loans to people with poor or no credit, so you may need to put in extra effort to find a lender willing to work with you. The good news is that myAutoloan partners with lenders specializing in bad credit loans.
When you find a lender in Ohio, you may see that your low credit score affects your loan. You may have limited borrowing power and a higher interest rate due to your poor credit score. Higher interest rates will mean higher monthly payments and overall repayment. With our Interest Rate Estimator and Payment Calculator, you can see what the monthly payment on your Butler loan could look like before even applying.
Worried about your potential interest rate and monthly payment? You might want to consider improving your credit score before applying for auto loans in Butler, Ohio. Check out our Guide to Better Credit for Auto Financing for information about credit scores and tips for quickly raising yours.
Find the Best Deal in Butler, OH for Bad Credit Car Loans
A low credit score can raise the rate on your car loan, so it's more critical than ever to compare costs and find the right loan in Butler, OH. myAutoloan is here to help you find the best loan — even without the best credit history. All you have to do is choose your offer type and complete a confidential, secure application. We'll show you up to four loans in minutes so you can easily compare rates. After, you can select the right loan for you and head to your local Butler dealership with a check in hand.
Why wait to get a new ride? Poor credit shouldn't stop you. Apply today through myAutoloan and compare up to four Butler, OH bad credit auto loans!