How Do I Know If I Have Bad Credit in Canton, MS?
When you borrow money — like a car loan — Mississippi lenders look at your credit score to determine how likely you are to repay it. Many factors influence 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 Canton, MS has its own criteria for what's considered a bad credit score, you might be seen as having bad credit if your score falls below 600. Lenders will also be wary if you've gone through bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Canton, MS with Low Credit?
Many car buyers have asked, “Can I get a car loan with a credit score of 600 or less?” Yes, you can. However, financing a car in Canton, MS with bad credit won't necessarily be easy. For starters, not every lender is willing to give a loan to someone with poor or no credit, so you may need to put in some extra hours to find a lender inclined to work with you. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
Once you find a lender in Mississippi, you may see that your loan is impacted by your low credit score. A poor credit score might limit your borrowing and lead to higher interest rates. High interest rates also mean higher monthly payments and overall repayment. Tools like our Interest Rate Estimator and Payment Calculator can help you see an estimate for the monthly payment on your Canton loan before completing an application.
Concerned about your possible interest rate and monthly payment? You may want to think about boosting your credit score before applying for Canton, Mississippi auto loans. Study our Guide to Better Credit for Auto Financing to learn about credit scores and how you can quickly raise yours.
Find the Best Deal on Canton, MS Poor Credit Car Loans
A poor credit score can increase the rate on your car loan, making it more important than ever to compare lenders in Canton, MS and find the right deal. At myAutoloan, we want to help you find the best loan — despite your credit history. All you have to do is choose your offer type and complete or confidential and secure application. We'll show you up to four loans in minutes so you can easily compare rates. Then, you can choose the best loan for you and head down to your go-to dealership in Canton with a check in hand.
Need a new ride? Your poor credit doesn’t have to stop you. Apply now and compare up to four bad credit auto loans in Canton, MS through myAutoloan!