What Is Considered Bad Credit in Marion, OH?
When you apply for any type of loan, lenders in Ohio look at your credit score to decide the probability that you'll repay it. Many factors influence your credit score, including any remaining loan balances, your repayment history, the number of open accounts you have, and the age of your credit accounts. While every Marion, OH lender has its own criteria for what's considered a low credit score, you are often seen as having bad credit if your score is less than 600. Lenders will also be wary if you have a history of bankruptcy, foreclosure, or repossession.
Can I Still Get a Car Loan in Marion, 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 simple answer is yes. However, financing a car in Marion, OH with bad credit won't necessarily be easy. Most notably, not every lender is willing to give a loan to someone with poor or no credit, so it may take some extra time to find a lender inclined to work with you. Luckily, myAutoloan partners with lenders specializing in bad credit car loans.
When you find a lender in Ohio, you may discover your low credit score impacts 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 total repayment. Use our Interest Rate Estimator and Payment Calculator to see what the monthly payment on your Marion loan could look like before filling out an application.
Worried about your potential interest rate and monthly payment? You may want to contemplate raising your credit score before applying for auto loans in Marion, Ohio. Check out our Guide to Better Credit for Auto Financing to better understand your credit score and how you can raise it.
Find the Best Deal on Poor Credit Car Loans in Marion, OH
A poor credit score can raise your car loan rate, making it more crucial than ever to compare lending options and find the right deal in Marion, OH. myAutoloan is here to help you find the best loan — regardless of your credit history. All you have to do is select your offer type and complete our secure, confidential application. We’ll show you up to four loans at a time so you can compare rates in minutes. Finally, you can choose the best loan for you and visit any dealership in Marion with money in hand.
Ready to purchase your next ride? Bad credit doesn't have to get in the way. Apply now and compare up to four bad credit auto loans in Marion, OH through myAutoloan!