Do I Have Bad Credit in Flowood, MS?
When you try to borrow money — like a car loan — Mississippi lenders look at your credit score to figure out the likelihood of you repaying 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 each Flowood, MS lender has its own guidelines for what’s considered a poor credit score, you could be seen as having bad credit if your score is less than 600. Lenders will also be more cautious if you’ve experienced bankruptcy, repossession, or foreclosure.
Is it Possible to Get a Car Loan in Flowood, MS with Bad Credit?
Many car buyers have asked, “Can I get a car loan with a credit score of 600 or less?” Yes, you can. However, it's going to be harder to finance a car with bad credit in Flowood, MS. To begin with, not all lenders are willing to give a loan to someone with no or poor credit, so it may take some extra time to find a lender willing to work with you. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
Once you've found a lender in Mississippi, you may learn your low credit score impacts your loan. You may have limited borrowing power and a higher interest rate due to your poor credit score. Higher interest rates will mean larger monthly payments and overall repayment. Our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Flowood loan could look like before filling out an application.
Worried about your potential interest rate and monthly payment? You might want to consider improving your credit score before applying for Flowood, Mississippi 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 Poor Credit Car Loans in Flowood, MS
A low credit score can increase the rate on your car loan, so it's more critical than ever to compare lending options and find the right deal in Flowood, MS. 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 or confidential and secure application. We'll show you up to four loans at once, allowing you to compare rates in minutes. To finish, you can select the right loan for you and head to your local Flowood dealership with cash in hand.
Ready to purchase a new ride? Your poor credit doesn’t have to stop you. Apply with myAutoloan today and compare up to four bad credit auto loans in Flowood, MS!