What Counts as Bad Credit in North Little Rock, AR?
When you borrow money — like a car loan — lenders in Arkansas use your credit score to determine the chances of you repaying 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 lender in North Little Rock, AR will have its own guidelines for what's considered a low credit score, you may be seen as having bad credit if your score is lower than 600. Lenders will also be worried if you've gone through bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in North Little Rock, AR 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. But, financing a car in North Little Rock, AR with bad credit won't necessarily be easy. First off, not every lender offers poor or no credit loans, so it may take some extra time to find a lender inclined to work with you. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
Once you've chosen a lender in Arkansas, you may discover your low credit score impacts your loan. A poor credit score might limit your borrowing and lead to higher interest rates. High interest rates also mean higher monthly payments and more spent over the life of the loan. With our Interest Rate Estimator and Payment Calculator, you can see what the monthly payment on your North Little Rock loan could look like before completing an application.
Concerned about your possible interest rate and monthly payment? You should think about raising your credit score before applying for North Little Rock, Arkansas auto loans. Study our Guide to Better Credit for Auto Financing for information about credit scores and tips for quickly raising yours.
Find the Best Deal in North Little Rock, AR for Bad Credit Car Loans
A bad credit score can increase your car loan rate, so it's more critical than ever to compare lenders in North Little Rock, AR and find the right deal. At myAutoloan, we want to help you find the best loan — no matter your credit history. All you have to do is select your offer type and complete our secure, confidential application. We’ll show you up to four loans at a time so you can compare rates in minutes. After, you can choose the best loan for you and head down to your go-to dealership in North Little Rock with a loan in hand.
Ready to purchase your next 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 North Little Rock, AR!