How Do I Know If I Have Bad Credit in Columbia, MS?
When you apply for a car loan, mortgage, or another type of loan, lenders in Mississippi look at your credit score to evaluate how likely you are to repay it. Many factors play into your credit score, 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 Columbia, MS has its own benchmarks for what's considered a low credit score, you could be seen as having bad credit if your score is lower than 600. Lenders will also be nervous if you've experienced repossession, bankruptcy, or foreclosure.
Can I Get a Car Loan in Columbia, MS If I Have Bad 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 is yes. Keep in mind, it's going to be harder to finance a car with bad credit in Columbia, MS. First off, not every lender offers poor or no credit loans, so it may take some extra time to find a lender who will help with your financing. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
Once you find a lender in Mississippi, you may discover your loan is impacted by your low credit score. A poor credit score might limit your borrowing and lead to higher interest rates. Higher interest rates will mean higher monthly payments and more spent over the life of the loan. Our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Columbia loan might look like before even applying.
Do your potential interest rate and monthly payment have you sweating? You might want to consider increasing your credit score before applying for Columbia, Mississippi auto loans. Study 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 Bad Credit Car Loans in Columbia, MS
A low credit score can raise the rate on your car loan, making it more crucial than ever to compare lenders in Columbia, MS and find the right deal. myAutoloan wants to help you find the best loan — regardless of your credit history. All you have to do is choose your offer type and complete a confidential, secure application. We’ll show you up to four loans at a time so you can compare rates in minutes. After, you can select the right loan for you and head to your favorite Columbia dealership with a check 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 Columbia, MS!