How Do I Know If I Have Bad Credit in Eugene, OR?
When you try to borrow money — like a car loan — lenders in Oregon look at your credit score to figure out how likely you are to repay it. Many factors influence your credit score, including your repayment history, the number of accounts you have open, the age of your credit accounts, and any remaining loan balances. While every Eugene, OR lender has its own criteria for what’s considered a poor credit score, you may be seen as having bad credit if your score is lower than 600. Lenders will also be more cautious if you have a history of bankruptcy, foreclosure, or repossession.
Can I Still Get a Car Loan in Eugene, OR with 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 Eugene, OR with bad credit won't necessarily be easy. To begin with, not every lender feels comfortable giving loans to people with poor or no credit, so you may need to put in extra effort to find a lender who will work with you. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
Once you find a lender in Oregon, you may see that your low credit score affects your loan. A poor credit score can limit your borrowing and result in higher interest rates. High interest rates also mean higher monthly payments and more spent over the life of the loan. With our Interest Rate Estimator and Payment Calculator, you can see what the monthly payment on your Eugene loan might look like before completing an application.
Worried about your potential interest rate and monthly payment? You may want to think about improving your credit score before you apply for Eugene, Oregon car loans. Take a look at our Guide to Better Credit for Auto Financing for information about credit scores and tips for quickly raising yours.
Find the Best Deal in Eugene, OR for Bad Credit Car Loans
A low credit score can raise your car loan rate, making it more critical than ever to compare lenders in Eugene, OR and find the right deal. myAutoloan is here to help you find the best loan — despite your credit history. All you have to do is choose your offer type and fill out our secure, confidential application. You'll see up to four loans at once so you can compare rates in minutes. Finally, you can select the loan that looks best to you and head to your local Eugene dealership with cash in hand.
Why wait to get a new ride? Bad credit doesn't have to stop you. Apply now and compare up to four bad credit auto loans in Eugene, OR through myAutoloan!