What Counts as Bad Credit in Gulfport, MS?
When you borrow money — like a car loan — Mississippi lenders look at your credit score to determine the chances 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 every lender in Gulfport, MS has its own criteria for what's considered a bad credit score, you might be 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 Get a Car Loan in Gulfport, MS If I Have Bad Credit?
Many car buyers have asked, “Can I get a car loan with a credit score of 600 or less?” The short answer is yes. However, it's going to be harder to finance a car with bad credit in Gulfport, MS. Most notably, not every lender feels comfortable giving loans to people with poor or no credit, so it may take some extra time to find a lender who will work with you. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
Once you find a lender in Mississippi, you may see that your low credit score changes 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 overall loan costs. Tools like our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Gulfport loan might look like before you apply.
Do your potential interest rate and monthly payment have you worried? You might want to look into increasing your credit score before you start applying for auto loans in Gulfport, Mississippi. View 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 Gulfport, MS
A bad credit score can raise the rate on your car loan, making it more important than ever to compare costs and find the right loan in Gulfport, MS. myAutoloan is here to help you find the best loan — despite your credit history. All you need to do is select your offer type and complete 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 local Gulfport dealership with cash in hand.
Why wait to get 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 Gulfport, MS!