What Is Considered Bad Credit in Aberdeen, WA?
When you apply for any type of loan, Washington lenders use your credit score to determine the likelihood of you repaying it. Your credit score is calculated using many factors, including your repayment history, the number of accounts you have open, the age of your credit accounts, and any remaining loan balances. While every Aberdeen, WA lender has its own benchmarks for what’s considered a poor credit score, you may be seen as having bad credit if your score is lower than 600. Lenders will also be nervous if you’ve experienced bankruptcy, repossession, or foreclosure.
Can I Get a Car Loan in Aberdeen, WA If I Have 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 simple answer is yes. Keep in mind, financing a car with bad credit in Aberdeen, WA will come with some challenges. For starters, not every lender is willing to give a loan to someone with poor or no credit, so it may take some extra time to find a lender who will work with you. The good news is that myAutoloan partners with lenders specializing in bad credit loans.
When you find a lender in Washington, you may learn your low credit score affects your loan. You may have limited borrowing power and a higher interest rate due to your poor credit score. High interest rates also mean larger monthly payments and more spent over the life of the loan. Use our Interest Rate Estimator and Payment Calculator to see an estimate for the monthly payment on your Aberdeen loan before completing an application.
Do your potential interest rate and monthly payment have you worried? You might want to consider increasing your credit score before you start applying for auto loans in Aberdeen, Washington. Study our Guide to Better Credit for Auto Financing to learn about credit scores and how you can quickly raise yours.
Find the Best Deal in Aberdeen, WA for Bad Credit Car Loans
A bad credit score can increase the rate on your car loan, making it more crucial than ever to compare costs to find the right deal in Aberdeen, WA. myAutoloan wants to make sure you find the best loan — no matter your credit history. All you need to do is select your offer type and complete our secure, confidential application. We'll show you up to four loans at once, allowing you to compare rates in minutes. Finally, you can select the right loan for you and head down to your go-to dealership in Aberdeen with cash in hand.
Ready to purchase your next ride? Poor credit shouldn't stop you. Apply today through myAutoloan and compare up to four Aberdeen, WA bad credit auto loans!