What Is Considered Bad Credit in Ogden, UT?
When you apply for any type of loan, Utah lenders use your credit score to figure out the likelihood 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 every lender in Ogden, UT has its own criteria for what’s considered a poor credit score, you are often seen as having bad credit if your score is less than 600. Lenders will also be nervous if you’ve experienced bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Ogden, UT with Low 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 with bad credit in Ogden, UT will come with some challenges. Most notably, 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 willing to work with you. Luckily, myAutoloan partners with lenders specializing in bad credit car loans.
Once you find a lender in Utah, you may see that your low credit score impacts 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 total repayment. Our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Ogden loan might look like before even applying.
Do your potential interest rate and monthly payment have you worried? You should consider increasing your credit score before you apply for Ogden, Utah car loans. Study our Guide to Better Credit for Auto Financing to better understand your credit score and how you can raise it.
Find the Best Deal on Poor Credit Car Loans in Ogden, UT
A poor credit score can raise the rate on your car loan, making it more crucial than ever to compare costs to find the right deal in Ogden, UT. myAutoloan wants to help you find the best loan — even without the best credit history. All you have 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. After, you can choose the best loan for you and head to your favorite Ogden dealership with a loan in hand.
Ready to purchase a new ride? Your poor credit doesn’t have to stop you. Apply through myAutoloan now and review up to four Ogden, UT bad credit car loans!