What Counts as Bad Credit in American Fork, UT?
When you apply for any type of loan, lenders in Utah use your credit score to determine the chances of you repaying it. Many factors go into your credit score, including the number of open accounts you have, your repayment history, the age of your credit accounts, and any remaining loan balances. While each American Fork, UT lender has its own guidelines for what's considered a low credit score, you could be seen as having bad credit if your score falls below 600. Lenders will also be worried if you've experienced repossession, bankruptcy, or foreclosure.
Can I Still Get a Car Loan in American Fork, UT with Bad Credit?
Many borrowers have asked, “Can I get a car loan with a credit score of 600 or less?” The short answer is yes. Keep in mind, financing a car in American Fork, UT with bad credit won't necessarily be easy. Most notably, not all lenders are willing to give a loan to someone with no or poor credit, so you may need to spend some extra time finding a lender inclined to work with you. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
Once you've found a lender in Utah, you may learn your low credit score changes your loan. You may have limited borrowing power and a higher interest rate due to your poor credit score. This high interest rate will also mean 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 American Fork loan could look like before completing an application.
Do your potential interest rate and monthly payment have you sweating? You should contemplate boosting your credit score before you start applying for auto loans in American Fork, Utah. View our Guide to Better Credit for Auto Financing for information about credit scores and tips for quickly raising yours.
Find the Best Deal on American Fork, UT Poor Credit Car Loans
A low credit score can raise your car loan rate, so it's more critical than ever to compare lending options and find the right deal in American Fork, UT. myAutoloan wants to make sure 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. Finally, you can select the right loan for you and head to your local American Fork dealership with cash in hand.
Need a new ride? Your poor credit doesn’t have to stop you. Apply now and compare up to four bad credit auto loans in American Fork, UT through myAutoloan!