What Counts as Bad Credit in Perry, OK?
When you try to borrow money — like a car loan — lenders in Oklahoma look at 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 Perry, OK has its own guidelines for what's considered a bad credit score, you could be 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 Get a Car Loan in Perry, OK If I Have Bad Credit?
Many car buyers have asked, “Can I get a car loan with a credit score of 600 or less?” Yes, you can. However, it's going to be harder to finance a car with bad credit in Perry, OK. Most notably, not every lender feels comfortable giving loans to people with poor or no credit, so it may take some extra time to find a lender who will help with your financing. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
Once you've found a lender in Oklahoma, you may learn 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 more spent over the life of the loan. Use our Interest Rate Estimator and Payment Calculator to see what the monthly payment on your Perry loan could look like before completing an application.
Do your potential interest rate and monthly payment have you worried? You should think about improving your credit score before you start applying for auto loans in Perry, Oklahoma. 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 on Poor Credit Car Loans in Perry, OK
A low credit score can raise your car loan rate, so it's more critical than ever to compare costs to find the right deal in Perry, OK. 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 at a time so you can compare rates in minutes. To finish, you can select the loan that looks best to you and head down to your go-to dealership in Perry with a loan in hand.
Need a new ride? Poor credit shouldn't stop you. Apply today through myAutoloan and compare up to four Perry, OK bad credit auto loans!