What Counts as Bad Credit in Centerville, UT?
When you borrow money — like a car loan — Utah lenders use your credit score to determine the probability that you'll repay 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 each Centerville, UT lender has its own benchmarks for what it deems a poor credit score, you could be 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 Centerville, UT with Low Credit?
Many car buyers have asked, “Can I get a car loan with a credit score of 600 or less?” The short answer is yes. Still, you'll likely face some challenges financing a car with bad credit in Centerville, UT. 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 some extra hours to find a lender who will work with you. The good news is that myAutoloan partners with lenders specializing in bad credit loans.
Once you've found a lender in Utah, you may learn your low credit score impacts 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 overall repayment. With our Interest Rate Estimator and Payment Calculator, you can see what the monthly payment on your Centerville loan might look like before you apply.
Do your potential interest rate and monthly payment have you worried? You might want to consider raising your credit score before applying for Centerville, Utah auto loans. Study our Guide to Better Credit for Auto Financing for information about credit scores and tips for quickly raising yours.
Find the Best Deal on Centerville, UT Poor Credit Car Loans
A low credit score can increase your car loan rate, making it more critical than ever to compare costs and find the right loan in Centerville, UT. myAutoloan wants to make sure you find the best loan — despite your credit history. All you have to do is select your offer type and complete a confidential, 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 right loan for you and head to your favorite Centerville dealership with a check in hand.
Why wait to get a new ride? Bad credit doesn't have to stop you. Apply today through myAutoloan and compare up to four Centerville, UT bad credit auto loans!