What Is Considered Bad Credit in South Jordan, UT?
When you apply for any type of loan, Utah lenders look at your credit score to decide how likely you are to repay it. Many factors go into 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 South Jordan, UT lender has its own criteria for what’s considered a poor credit score, you may be seen as having bad credit if your score falls below 600. Lenders will also be nervous if you've experienced repossession, bankruptcy, or foreclosure.
Is it Possible to Get a Car Loan in South Jordan, UT 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 is yes. But, you'll likely face some challenges financing a car with bad credit in South Jordan, UT. For starters, 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 who will help with your financing. Luckily, myAutoloan partners with lenders specializing in bad credit car loans.
Once you find a lender in Utah, you may discover your low credit score changes your loan. A poor credit score can limit your borrowing and result in higher interest rates. This high interest rate will lead to larger monthly payments and more spent over the life of the loan. Our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your South Jordan loan might look like before filling out an application.
Worried about your potential interest rate and monthly payment? You might want to look into increasing your credit score before you apply for South Jordan, Utah car loans. Study our Guide to Better Credit for Auto Financing for help understanding and quickly raising 7our credit.
Find the Best Deal on Poor Credit Car Loans in South Jordan, UT
A low credit score can raise the rate on your car loan, making it more important than ever to compare lending options and find the right deal in South Jordan, UT. myAutoloan wants to make sure you find the best loan — regardless of your credit history. All you need to do is select your offer type and fill out our secure, confidential application. We’ll show you up to four loans at a time so you can compare rates in minutes. To finish, you can choose the best loan for you and head to your favorite South Jordan dealership with cash in hand.
Ready to purchase your next ride? Bad credit doesn't have to get in the way. Apply with myAutoloan today and compare up to four bad credit auto loans in South Jordan, UT!