What Counts as Bad Credit in Kennewick, WA?
When you borrow money — like a car loan — Washington lenders use your credit score to figure out the chances 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 Kennewick, WA lender has its own criteria for what's considered a bad credit score, you might be seen as having bad credit if you have a score below 600. Lenders will also be wary if you've experienced repossession, bankruptcy, or foreclosure.
Can I Still Get a Car Loan in Kennewick, WA with Low Credit?
Many car buyers have asked, “Can I get a car loan with a credit score of 600 or less?” The simple answer is yes. Keep in mind, you'll likely face some challenges financing a car with bad credit in Kennewick, WA. First off, not every lender is willing to give a loan to someone with poor or no 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 Washington, you may see that your loan is impacted by your low credit score. You may have limited borrowing power and a higher interest rate due to your poor credit score. Higher interest rates will mean higher monthly payments and more spent over the life of the loan. Tools like our Interest Rate Estimator and Payment Calculator can help you see an estimate for the monthly payment on your Kennewick loan before filling out an application.
Do your potential interest rate and monthly payment have you sweating? You might want to look into boosting your credit score before applying for auto loans in Kennewick, 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 Kennewick, WA for Bad Credit Car Loans
A poor credit score can raise the rate on your car loan, making it more critical than ever to compare costs to find the right deal in Kennewick, WA. myAutoloan wants to make sure you find the best loan — even without the best credit history. Simply choose your offer type and fill out our secure, confidential application. You'll see up to four loans at once so you can compare rates in minutes. Finally, you can choose the best loan for you and head down to your go-to dealership in Kennewick with a loan in hand.
Ready to purchase a new ride? Bad credit doesn't have to stop you. Apply through myAutoloan now and review up to four Kennewick, WA bad credit car loans!