What Counts as Bad Credit in Hattiesburg, MS?
When you apply for any type of loan, Mississippi lenders use your credit score to determine how likely you are to repay it. Many factors play into your credit score, including any remaining loan balances, your repayment history, the number of open accounts you have, and the age of your credit accounts. While each lender in Hattiesburg, MS has its own criteria for what's considered a low credit score, you are often seen as having bad credit if your score sits under the 600 benchmark. Lenders will also be nervous if you've gone through bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Hattiesburg, MS with Low Credit?
Many borrowers have asked, “Can I get a car loan with a credit score of 600 or less?” Yes, you can. Keep in mind, financing a car with bad credit in Hattiesburg, MS will come with some challenges. To begin with, not every lender is willing to give a loan to someone with poor or no credit, so you may need to spend some extra time finding a lender who will 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 low credit score impacts your loan. A poor credit score can limit your borrowing and result in higher interest rates. This high interest rate will also mean higher monthly payments and overall repayment. With our Interest Rate Estimator and Payment Calculator, you can see what the monthly payment on your Hattiesburg loan might look like before completing an application.
Worried about your potential interest rate and monthly payment? You may want to contemplate improving your credit score before you apply for Hattiesburg, Mississippi car loans. Take a look at our Guide to Better Credit for Auto Financing for information about credit scores and tips for quickly raising yours.
Find the Best Deal in Hattiesburg, MS for Bad Credit Car Loans
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 Hattiesburg, MS. myAutoloan is here 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. We’ll show you up to four loans at a time so you can compare rates in minutes. Finally, you can choose the best loan for you and head to your favorite Hattiesburg dealership with cash in hand.
Need a new ride? Bad credit doesn't have to get in the way. Apply through myAutoloan now and review up to four Hattiesburg, MS bad credit car loans!