What Counts as Bad Credit in Beaverton, OR?
When you try to borrow money — like a car loan — lenders in Oregon use your credit score to evaluate the likelihood of you repaying 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 every Beaverton, OR lender has its own guidelines for what's considered a bad credit score, you might be seen as having bad credit if you have a score below 600. Lenders will also be nervous if you have a history of bankruptcy, foreclosure, or repossession.
Can I Still Get a Car Loan in Beaverton, 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. Still, it's going to be harder to finance a car with bad credit in Beaverton, OR. 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.
Once you've found a lender in Oregon, you may notice your low credit score impacts your loan. A poor credit score might limit your borrowing and lead to higher interest rates. This high interest rate will also mean higher monthly payments and overall loan costs. Tools like our Interest Rate Estimator and Payment Calculator can help you see an estimate for the monthly payment on your Beaverton loan before filling out an application.
Do your potential interest rate and monthly payment have you sweating? You might want to think about raising your credit score before you apply for Beaverton, Oregon car loans. Take a look at our Guide to Better Credit for Auto Financing for help understanding and quickly raising 7our credit.
Find the Best Deal on Beaverton, OR Poor Credit Car Loans
A poor credit score can raise the rate on your car loan, making it more important than ever to compare costs and find the right loan in Beaverton, OR. myAutoloan is here to help you find the best loan — no matter your 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. Finally, you can choose the best loan for you and head down to your go-to dealership in Beaverton with money in hand.
Need a new ride? Your poor credit doesn’t have to stop you. Apply today through myAutoloan and compare up to four Beaverton, OR bad credit auto loans!