What Counts as Bad Credit in Menomonie, WI?
When you borrow money — like a car loan — Wisconsin lenders look at your credit score to evaluate the likelihood of you repaying it. Your credit score is calculated using many factors, including the number of open accounts you have, your repayment history, the age of your credit accounts, and any remaining loan balances. While each Menomonie, WI lender has its own criteria for what's considered a low credit score, you could be seen as having bad credit if your score sits under the 600 benchmark. Lenders will also be nervous if you’ve experienced bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Menomonie, WI 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 simple answer is yes. Still, it's going to be harder to finance a car with bad credit in Menomonie, WI. To begin with, not every lender offers poor or no credit loans, so you may need to put in some extra hours to find a lender willing to work with you. The good news is that myAutoloan partners with lenders specializing in bad credit loans.
Once you've found a lender in Wisconsin, you may learn your low credit score changes your loan. A poor credit score can result in limited borrowing and higher interest rates. This high interest rate will also mean higher monthly payments and overall loan costs. Use our Interest Rate Estimator and Payment Calculator to see what the monthly payment on your Menomonie loan could look like before filling out an application.
Do your potential interest rate and monthly payment have you sweating? You should look into raising your credit score before applying for auto loans in Menomonie, Wisconsin. Check out 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 Menomonie, WI
A low credit score can increase the rate on your car loan, making it more critical than ever to compare lending options and find the right deal in Menomonie, WI. myAutoloan is here to help you find the best loan — despite your credit history. All you have to do is choose your offer type and fill out our secure, confidential application. We'll show you up to four loans at once, allowing you to compare rates in minutes. After, you can select the loan that looks best to you and head to your favorite Menomonie dealership with cash in hand.
Ready to purchase a new 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 Menomonie, WI!