What Counts as Bad Credit in Bend, OR?
When you borrow money — like a car loan — Oregon lenders look at your credit score to decide 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 every lender in Bend, OR has its own benchmarks for what it deems a poor credit score, you are often seen as having bad credit if your score is lower than 600. Lenders will also be more cautious if you've experienced repossession, bankruptcy, or foreclosure.
Can I Still Get a Car Loan in Bend, OR with Bad 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 short answer? Yes. Still, it's going to be harder to finance a car with bad credit in Bend, OR. For starters, not all lenders are willing to give a loan to someone with no or poor credit, so you may need to spend some extra time finding a lender who will help with your financing. Luckily, myAutoloan partners with lenders specializing in bad credit car loans.
When you find a lender in Oregon, you may see that your low credit score affects your loan. 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 what the monthly payment on your Bend loan might be before you apply.
Concerned about your possible interest rate and monthly payment? You might want to consider boosting your credit score before you start applying for auto loans in Bend, Oregon. View our Guide to Better Credit for Auto Financing for information about credit scores and tips for quickly raising yours.
Find the Best Deal in Bend, OR for Bad Credit Car Loans
A bad credit score can increase your car loan rate, so it's more critical than ever to compare costs and find the right loan in Bend, OR. myAutoloan wants to make sure you find the best loan — despite your credit history. All you have to do is choose 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. Finally, you can select the loan that looks best to you and head to your favorite Bend dealership with money in hand.
Need a new ride? Bad credit doesn't have to get in the way. Apply now and compare up to four bad credit auto loans in Bend, OR through myAutoloan!