How Do I Know If I Have Bad Credit in Hillsboro, OR?
When you apply for a car loan, mortgage, or another type of loan, lenders in Oregon use your credit score to determine the probability that you'll repay it. Many factors play into your credit score, including the age of your credit accounts, the number of open accounts you have, any remaining loan balances, and your repayment history. While each Hillsboro, OR lender has its own criteria for what’s considered a poor credit score, you could be seen as having bad credit if your score sits under the 600 benchmark. Lenders will also be wary if you've experienced repossession, bankruptcy, or foreclosure.
Can I Get a Car Loan in Hillsboro, OR If I Have 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 is yes. However, it's going to be harder to finance a car with bad credit in Hillsboro, OR. First off, not every lender feels comfortable giving loans to people with poor or no credit, so it may take some extra time to find a lender willing to work with you. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
When you find a lender in Oregon, 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 higher monthly payments and total repayment. Use our Interest Rate Estimator and Payment Calculator to see what the monthly payment on your Hillsboro loan could look like before you apply.
Do your potential interest rate and monthly payment have you worried? You should consider raising your credit score before applying for auto loans in Hillsboro, Oregon. View our Guide to Better Credit for Auto Financing to learn about credit scores and how you can quickly raise yours.
Find the Best Deal on Poor Credit Car Loans in Hillsboro, OR
A low credit score can raise your car loan rate, making it more crucial than ever to compare lending options and find the right deal in Hillsboro, OR. 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. To finish, you can select the best loan for you and head to your favorite Hillsboro dealership with cash in hand.
Ready to purchase a new ride? Bad credit doesn't have to get in the way. Apply through myAutoloan now and review up to four Hillsboro, OR bad credit car loans!