How Do I Know If I Have Bad Credit in Wilsonville, OR?
When you apply for a car loan, mortgage, or another type of loan, lenders in Oregon look at your credit score to figure out the chances of you repaying it. Your credit score is calculated using many factors, including the number of open accounts you have, your repayment history, the age of your credit accounts, and any remaining loan balances. While each lender in Wilsonville, OR has its own criteria for what it considers a poor credit score, you could be seen as having bad credit if your score is less than 600. Lenders will also be worried if you've experienced repossession, bankruptcy, or foreclosure.
Can I Still Get a Car Loan in Wilsonville, 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. Keep in mind, it's going to be harder to finance a car with bad credit in Wilsonville, OR. First off, not every lender feels comfortable giving loans to people with poor or no credit, so you may need to put in some extra hours to find a lender who will 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 affects your loan. A poor credit score can limit your borrowing and result in higher interest rates. This high interest rate will lead to higher monthly payments and overall repayment. Tools like our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Wilsonville loan might look like before filling out an application.
Worried about your potential interest rate and monthly payment? You might want to consider improving your credit score before you apply for Wilsonville, Oregon car loans. Check out our Guide to Better Credit for Auto Financing for information about credit scores and tips for quickly raising yours.
Find the Best Deal in Wilsonville, OR for Bad Credit Car Loans
A bad credit score can increase the rate on your car loan, making it more important than ever to compare lending options and find the right deal in Wilsonville, OR. myAutoloan wants to make sure you find the best loan — despite your credit history. All you need to do is select your offer type and complete or confidential and secure application. We'll show you up to four loans at once, allowing you to compare rates in minutes. Then, you can select the right loan for you and head to your local Wilsonville dealership with a check in hand.
Ready to purchase your next ride? Poor credit shouldn't stop you. Apply now and compare up to four bad credit auto loans in Wilsonville, OR through myAutoloan!