How Do I Know If I Have Bad Credit in Dayton, OH?
When you apply for a car loan, mortgage, or another type of loan, lenders in Ohio use your credit score to decide the chances of you repaying it. Many factors influence your credit score, including the number of open accounts you have, your repayment history, the age of your credit accounts, and any remaining loan balances. While each lender in Dayton, OH has its own guidelines for what it considers a poor credit score, you might be seen as having bad credit if your score is less than 600. Lenders will also be worried if you've gone through bankruptcy, repossession, or foreclosure.
Is it Possible to Get a Car Loan in Dayton, OH with Bad 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, it's going to be harder to finance a car with bad credit in Dayton, OH. Most notably, not all lenders are willing to give a loan to someone with no or poor credit, so you may need to spend some extra time finding a lender who will help with your financing. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
Once you find a lender in Ohio, you may see that your low credit score affects your loan. A poor credit score might limit your borrowing and lead to higher interest rates. High interest rates also mean 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 Dayton loan might look like before you apply.
Concerned about your possible interest rate and monthly payment? You should consider raising your credit score before applying for auto loans in Dayton, Ohio. Take a look at our Guide to Better Credit for Auto Financing for help understanding and quickly raising 7our credit.
Find the Best Deal on Poor Credit Car Loans in Dayton, OH
A bad credit score can raise the rate on your car loan, making it more important than ever to compare costs and find the right loan in Dayton, OH. myAutoloan wants to help you find the best loan — regardless of your credit history. All you need to do is select your offer type and complete a confidential, secure application. We'll show you up to four loans at once, allowing you to compare rates in minutes. Then, you can choose the best loan for you and head to your local Dayton dealership with cash in hand.
Ready to purchase your next ride? Your poor credit doesn’t have to stop you. Apply with myAutoloan today and compare up to four bad credit auto loans in Dayton, OH!