What Counts as Bad Credit in Shawnee, OK?
When you try to borrow money — like a car loan — lenders in Oklahoma look at your credit score to figure out 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 Shawnee, OK has its own guidelines for what it deems a poor credit score, you could be seen as having bad credit if your score falls below 600. Lenders will also be worried if you’ve experienced bankruptcy, repossession, or foreclosure.
Can I Get a Car Loan in Shawnee, OK If I Have Bad Credit?
You’re not the first car buyer asking, “Can I get a car loan with a credit score of 600 or less?” The short answer is yes. However, financing a car in Shawnee, OK with bad credit won't necessarily be easy. First off, not every lender is willing to give a loan to someone with poor or no credit, so you may need to spend some extra time finding a lender inclined to work with you. Luckily, myAutoloan partners with lenders specializing in bad credit car loans.
Once you find a lender in Oklahoma, you may discover your low credit score changes your loan. You may have limited borrowing power and a higher interest rate due to your poor credit score. Higher interest rates will mean larger monthly payments and more spent over the life of the loan. Tools like our Interest Rate Estimator and Payment Calculator can help you see an estimate for the monthly payment on your Shawnee loan before filling out an application.
Concerned about your possible interest rate and monthly payment? You may want to think about raising your credit score before applying for auto loans in Shawnee, Oklahoma. 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 Shawnee, OK Poor Credit Car Loans
A poor credit score can increase the rate on your car loan, making it more important than ever to compare costs to find the right deal in Shawnee, OK. myAutoloan wants to make sure you find the best loan — even without the best credit history. Simply choose your offer type and complete our secure, confidential application. We'll show you up to four loans at once, allowing you to compare rates in minutes. Finally, you can select the loan that looks best to you and visit any dealership in Shawnee with a check in hand.
Need a new ride? Your poor credit doesn’t have to stop you. Apply through myAutoloan now and review up to four Shawnee, OK bad credit car loans!