Do I Have Bad Credit in Portland, OR?
When you apply for a car loan, mortgage, or another type of loan, Oregon lenders use your credit score to determine how likely you are to repay it. Many factors influence your credit score, including any remaining loan balances, your repayment history, the number of open accounts you have, and the age of your credit accounts. While every lender in Portland, OR has its own guidelines for what it deems a poor credit score, you might be seen as having bad credit if your score falls below 600. Lenders will also be wary if you’ve experienced bankruptcy, repossession, or foreclosure.
Is it Possible to Get a Car Loan in Portland, 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? Yes. Keep in mind, financing a car in Portland, OR with bad credit won't necessarily be easy. 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 willing to 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 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 more spent over the life of the loan. Use our Interest Rate Estimator and Payment Calculator to see what the monthly payment on your Portland loan might be before filling out an application.
Concerned about your possible interest rate and monthly payment? You should think about boosting your credit score before you start applying for auto loans in Portland, Oregon. Check out 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 Bad Credit Car Loans in Portland, OR
A bad 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 Portland, OR. myAutoloan wants to make sure 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. Finally, you can select the loan that looks best to you and head down to your go-to dealership in Portland with cash in hand.
Why wait to get a new ride? Poor credit shouldn't stop you. Apply now and compare up to four bad credit auto loans in Portland, OR through myAutoloan!