Do I Have Bad Credit in Ridgeland, MS?
When you apply for any type of loan, Mississippi lenders use your credit score to figure out the chances of you repaying 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 Ridgeland, MS lender will have its own guidelines for what it considers a poor credit score, you may be seen as having bad credit if your score sits under the 600 benchmark. Lenders will also be wary if you've gone through bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Ridgeland, MS with Low 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. But, financing a car with bad credit in Ridgeland, MS will come with some challenges. To begin with, not all lenders are willing to give a loan to someone with no or poor credit, so you may need to put in some extra hours to find a lender who will help with your financing. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
Once you find a lender in Mississippi, you may notice your low credit score changes your loan. A poor credit score might limit your borrowing and lead to higher interest rates. Higher interest rates will mean larger monthly payments and total repayment. Our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Ridgeland loan might be before filling out an application.
Worried about your potential interest rate and monthly payment? You should think about increasing your credit score before applying for auto loans in Ridgeland, Mississippi. Study our Guide to Better Credit for Auto Financing to learn about credit scores and how you can quickly raise yours.
Find the Best Deal in Ridgeland, MS for Bad Credit Car Loans
A low credit score can increase the rate on your car loan, so it's more critical than ever to compare costs and find the right loan in Ridgeland, MS. At myAutoloan, we want to help you find the best loan — regardless of your credit history. Simply choose your offer type and complete or confidential and secure application. We’ll show you up to four loans at a time so you can compare rates in minutes. To finish, you can select the right loan for you and head to your local Ridgeland dealership with cash in hand.
Need a new ride? Your poor credit doesn’t have to stop you. Apply through myAutoloan now and review up to four Ridgeland, MS bad credit car loans!