Do I Have Bad Credit in Medford, OR?
When you borrow money — like a car loan — Oregon lenders look at your credit score to decide the likelihood of you repaying it. Many factors go into 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 Medford, OR lender has its own benchmarks for what it considers a poor credit score, you are often seen as having bad credit if you have a score below 600. Lenders will also be worried if you have a history of bankruptcy, foreclosure, or repossession.
Can I Still Get a Car Loan in Medford, OR with Low Credit?
You're not the first car buyer to wonder, “Can I get a car loan with a credit score of 600 or less?” Yes, you can. Still, it's going to be harder to finance a car with bad credit in Medford, OR. For starters, 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 inclined to work with you. Luckily, myAutoloan partners with lenders specializing in bad credit car loans.
When you find a lender in Oregon, you may notice your low credit score affects your loan. A poor credit score can limit your borrowing and result in higher interest rates. Higher interest rates will mean higher monthly payments and total repayment. With our Interest Rate Estimator and Payment Calculator, you can see what the monthly payment on your Medford loan could look like before filling out an application.
Do your potential interest rate and monthly payment have you worried? You may want to look into raising your credit score before applying for Medford, Oregon auto loans. View our Guide to Better Credit for Auto Financing for help understanding and quickly raising 7our credit.
Find the Best Deal on Medford, OR Poor Credit Car Loans
A low credit score can raise the rate on your car loan, so it's more critical than ever to compare costs to find the right deal in Medford, OR. myAutoloan wants to help you find the best loan — despite your credit history. Simply choose your offer type and complete or confidential and secure application. We’ll show you up to four loans at a time so you can compare rates in minutes. After, you can choose the best loan for you and head to your local Medford dealership with a loan in hand.
Ready to purchase a new ride? Your poor credit doesn’t have to stop you. Apply with myAutoloan today and compare up to four bad credit auto loans in Medford, OR!