Do I Have Bad Credit in Ashland, OR?
When you try to borrow money — like a car loan — Oregon lenders look at your credit score to evaluate the probability that you'll repay it. Your credit score is calculated using many factors, including the age of your credit accounts, the number of open accounts you have, any remaining loan balances, and your repayment history. While each lender in Ashland, OR has its own guidelines for what it considers a poor credit score, you might be seen as having bad credit if you have a score below 600. Lenders will also be nervous if you've gone through bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Ashland, OR with Low Credit?
Many borrowers have asked, “Can I get a car loan with a credit score of 600 or less?” The short answer? Yes. But, financing a car in Ashland, OR 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 put in extra effort to find a lender who will work with you. The good news is that myAutoloan partners with lenders specializing in bad credit loans.
Once you find a lender in Oregon, you may notice your loan is impacted by your low credit score. A poor credit score might limit your borrowing and lead to higher interest rates. This high interest rate will lead to higher monthly payments and overall repayment. Our Interest Rate Estimator and Payment Calculator can help you see an estimate for the monthly payment on your Ashland loan before completing an application.
Do your potential interest rate and monthly payment have you sweating? You might want to look into improving your credit score before you apply for Ashland, Oregon car loans. 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 in Ashland, OR for Bad Credit Car Loans
A low credit score can increase the rate on your car loan, making it more crucial than ever to compare lenders in Ashland, OR 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 choose your offer type and complete a confidential, secure application. We'll show you up to four loans in minutes so you can easily compare rates. After, you can select the loan that looks best to you and head to your favorite Ashland dealership with cash in hand.
Ready to purchase a new ride? Poor credit shouldn't stop you. Apply now and compare up to four bad credit auto loans in Ashland, OR through myAutoloan!