What Counts as Bad Credit in Brookfield, WI?
When you try to borrow money — like a car loan — lenders in Wisconsin use your credit score to determine the probability that you'll repay it. Many factors go into your credit score, including your repayment history, the number of accounts you have open, the age of your credit accounts, and any remaining loan balances. While every lender in Brookfield, WI has its own guidelines for what’s considered a poor credit score, you may be seen as having bad credit if your score sits under the 600 benchmark. Lenders will also be wary if you've experienced repossession, bankruptcy, or foreclosure.
Can I Still Get a Car Loan in Brookfield, WI with Low Credit?
You're not the first car buyer to wonder, “Can I get a car loan with a credit score of 600 or less?” Yes, you can. However, it's going to be harder to finance a car with bad credit in Brookfield, WI. For starters, not every lender feels comfortable giving loans to people with poor or no credit, so it may take some extra time to find a lender who will help with your financing. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
Once you find a lender in Wisconsin, you may learn your low credit score impacts your loan. A poor credit score can limit your borrowing and result in higher interest rates. 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 Brookfield loan before filling out an application.
Do your potential interest rate and monthly payment have you worried? You may want to think about raising your credit score before you apply for Brookfield, Wisconsin car loans. View our Guide to Better Credit for Auto Financing for information about credit scores and tips for quickly raising yours.
Find the Best Deal on Brookfield, WI Poor Credit Car Loans
A low credit score can raise the rate on your car loan, making it more important than ever to compare costs to find the right deal in Brookfield, WI. myAutoloan wants to help you find the best loan — despite your credit history. All you have to do is select your offer type and fill out our secure, confidential 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 visit any dealership in Brookfield with money in hand.
Ready to purchase your next ride? Poor credit shouldn't stop you. Apply through myAutoloan now and review up to four Brookfield, WI bad credit car loans!