What Is Considered Bad Credit in Moss Point, MS?
When you apply for any type of loan, lenders in Mississippi look at your credit score to evaluate the probability that you'll repay it. Your credit score is calculated using many factors, including the age of your credit accounts, the number of open accounts you have, any remaining loan balances, and your repayment history. While every Moss Point, MS lender has its own guidelines for what it considers a poor credit score, you could be seen as having bad credit if your score falls below 600. Lenders will also be nervous if you’ve experienced bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Moss Point, MS with Bad Credit?
You're not the first car buyer to wonder, “Can I get a car loan with a credit score of 600 or less?” The simple answer is yes. Still, you'll likely face some challenges financing a car with bad credit in Moss Point, MS. To begin with, not every lender offers poor or no credit loans, so you may need to spend some extra time finding a lender who will help with your financing. The good news is that myAutoloan partners with lenders specializing in bad credit loans.
Once you've found a lender in Mississippi, you may see that your low credit score changes your loan. A poor credit score can result in limited borrowing and higher interest rates. Higher interest rates will mean higher monthly payments and overall loan costs. Tools like our Interest Rate Estimator and Payment Calculator can help you see an estimate for the monthly payment on your Moss Point loan before completing an application.
Do your potential interest rate and monthly payment have you sweating? You might want to look into improving your credit score before applying for auto loans in Moss Point, Mississippi. Check out 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 Moss Point, MS
A low credit score can increase the rate on your car loan, making it more crucial than ever to compare lenders in Moss Point, MS and find the right deal. myAutoloan is here to help you find the best loan — even without the best credit history. Simply choose your offer type and fill out our secure, confidential application. You'll see up to four loans at once so you can compare rates in minutes. Finally, you can select the right loan for you and head to your local Moss Point dealership with cash in hand.
Need a new ride? Bad credit doesn't have to stop you. Apply with myAutoloan today and compare up to four bad credit auto loans in Moss Point, MS!