Do I Have Bad Credit in Oxford, OH?
When you apply for a car loan, mortgage, or another type of loan, Ohio lenders look at your credit score to decide the likelihood of you repaying it. Your credit score is calculated using many factors, 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 Oxford, OH will have its own guidelines for what it considers a poor credit score, you could be seen as having bad credit if your score is less than 600. Lenders will also be worried if you’ve experienced bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Oxford, OH with Low 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. But, financing a car in Oxford, OH with bad credit won't necessarily be easy. To begin with, 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 who will work with you. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
When you find a lender in Ohio, you may discover your loan is impacted by your low credit score. A poor credit score can result in limited borrowing and higher interest rates. This high interest rate will also mean higher monthly payments and more spent over the life of the loan. Use our Interest Rate Estimator and Payment Calculator to see what the monthly payment on your Oxford loan might be before completing an application.
Worried about your potential interest rate and monthly payment? You may want to contemplate boosting your credit score before applying for auto loans in Oxford, Ohio. View 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 Oxford, OH Poor Credit Car Loans
A bad credit score can increase the rate on your car loan, so it's more critical than ever to compare lenders in Oxford, OH and find the right deal. At myAutoloan, we want 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 in minutes so you can easily compare rates. To finish, you can select the best loan for you and head to your favorite Oxford dealership with money in hand.
Ready to purchase a new ride? Bad credit doesn't have to stop you. Apply now and compare up to four bad credit auto loans in Oxford, OH through myAutoloan!