How Do I Know If I Have Bad Credit in Brookhaven, MS?
When you borrow money — like a car loan — Mississippi lenders look at your credit score to evaluate how likely you are to repay it. Many factors play 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 Brookhaven, MS lender has its own guidelines for what’s considered a poor credit score, you are often seen as having bad credit if your score sits under the 600 benchmark. Lenders will also be worried if you've gone through bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Brookhaven, MS with Bad Credit?
Many borrowers have asked, “Can I get a car loan with a credit score of 600 or less?” The short answer is yes. Still, financing a car in Brookhaven, MS 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 found a lender in Mississippi, 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. High interest rates also mean higher monthly payments and overall loan costs. Tools like our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Brookhaven loan could look like before completing an application.
Worried about your potential interest rate and monthly payment? You might want to contemplate increasing your credit score before you start applying for auto loans in Brookhaven, Mississippi. Check out our Guide to Better Credit for Auto Financing to better understand your credit score and how you can raise it.
Find the Best Deal on Poor Credit Car Loans in Brookhaven, MS
A bad credit score can increase your car loan rate, so it's more critical than ever to compare costs to find the right deal in Brookhaven, MS. myAutoloan wants 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. You'll see up to four loans at once so you can compare rates in minutes. After, you can select the best loan for you and head to your favorite Brookhaven dealership with money in hand.
Ready to purchase your next ride? Bad credit doesn't have to stop you. Apply today through myAutoloan and compare up to four Brookhaven, MS bad credit auto loans!