What Counts as Bad Credit in Tacoma, WA?
When you apply for a car loan, mortgage, or another type of loan, lenders in Washington look at your credit score to figure out how likely you are to repay it. Your credit score is calculated using many factors, including the age of your credit accounts, the number of open accounts you have, any remaining loan balances, and your repayment history. While every Tacoma, WA lender will have its own guidelines for what’s considered a poor credit score, you might be seen as having bad credit if your score falls 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 Tacoma, WA 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. However, financing a car in Tacoma, WA with bad credit won't necessarily be easy. Most notably, not all lenders are willing to give a loan to someone with no or poor credit, so you may need to put in some extra hours to find a lender who will work with you. Luckily, myAutoloan partners with lenders specializing in bad credit car loans.
Once you've chosen a lender in Washington, you may see that your low credit score changes your loan. A poor credit score can result in limited borrowing and higher interest rates. Higher interest rates will mean larger monthly payments and overall repayment. With our Interest Rate Estimator and Payment Calculator, you can see an estimate for the monthly payment on your Tacoma loan before filling out an application.
Do your potential interest rate and monthly payment have you sweating? You might want to consider increasing your credit score before you apply for Tacoma, Washington car loans. 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 on Tacoma, WA Poor Credit Car Loans
A bad credit score can increase the rate on your car loan, making it more critical than ever to compare costs to find the right deal in Tacoma, WA. myAutoloan wants to make sure you find the best loan — regardless of your credit history. All you have to do is choose your offer type and complete or confidential and secure application. We'll show you up to four loans in minutes so you can easily compare rates. After, you can select the best loan for you and head to your favorite Tacoma dealership with cash in hand.
Need a new ride? Poor credit shouldn't stop you. Apply through myAutoloan now and review up to four Tacoma, WA bad credit car loans!