Do I Have Bad Credit in Wausau, WI?
When you try to borrow money — like a car loan — lenders in Wisconsin look at your credit score to evaluate the probability that you'll repay it. Many factors play into your credit score, including the number of open accounts you have, your repayment history, the age of your credit accounts, and any remaining loan balances. While each Wausau, WI lender has its own benchmarks for what's considered a bad credit score, you may be seen as having bad credit if your score is lower than 600. Lenders will also be more cautious if you've gone through bankruptcy, repossession, or foreclosure.
Is it Possible to Get a Car Loan in Wausau, WI with Bad Credit?
Many borrowers have asked, “Can I get a car loan with a credit score of 600 or less?” The short answer? Yes. But, financing a car with bad credit in Wausau, WI will come with some challenges. To begin with, 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 willing to work with you. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
Once you find a lender in Wisconsin, you may see that your low credit score changes your loan. You may have limited borrowing power and a higher interest rate due to your poor credit score. This high interest rate will lead to higher monthly payments and more spent over the life of the loan. With our Interest Rate Estimator and Payment Calculator, you can see an estimate for the monthly payment on your Wausau loan before completing an application.
Worried about your potential interest rate and monthly payment? You might want to look into boosting your credit score before applying for Wausau, Wisconsin auto loans. Check out our Guide to Better Credit for Auto Financing for information about credit scores and tips for quickly raising yours.
Find the Best Deal on Bad Credit Car Loans in Wausau, WI
A poor credit score can increase the rate on your car loan, so it's more critical than ever to compare lenders in Wausau, WI and find the right deal. myAutoloan wants to make sure you find the best loan — even without the best credit history. Simply choose your offer type and complete 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 right loan for you and head down to your go-to dealership in Wausau with cash in hand.
Need a new ride? Bad credit doesn't have to stop you. Apply now and compare up to four bad credit auto loans in Wausau, WI through myAutoloan!