Do I Have Bad Credit in Asheville, NC?
When you apply for any type of loan, lenders in North Carolina use your credit score to evaluate the chances of you repaying it. Many factors go into your credit score, including the number of open accounts you have, your repayment history, the age of your credit accounts, and any remaining loan balances. While each lender in Asheville, NC has its own guidelines for what it deems a poor credit score, you could be seen as having bad credit if your score falls below 600. Lenders will also be more cautious if you’ve experienced bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Asheville, NC with Low Credit?
Many car buyers have asked, “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 Asheville, NC. To begin with, 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 help with your financing. Luckily, myAutoloan partners with lenders specializing in bad credit car loans.
Once you've chosen a lender in North Carolina, you may learn your low credit score impacts your loan. A poor credit score might limit your borrowing and lead to higher interest rates. This high interest rate will lead to larger monthly payments and more spent over the life of the loan. With our Interest Rate Estimator and Payment Calculator, you can see what the monthly payment on your Asheville loan might be before completing an application.
Do your potential interest rate and monthly payment have you sweating? You should look into improving your credit score before you start applying for auto loans in Asheville, North Carolina. Study our Guide to Better Credit for Auto Financing to better understand your credit score and how you can raise it.
Find the Best Deal in Asheville, NC for Bad Credit Car Loans
A poor credit score can raise your car loan rate, making it more crucial than ever to compare lending options and find the right deal in Asheville, NC. myAutoloan wants to help you find the best loan — even without the best 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 select the best loan for you and head down to your go-to dealership in Asheville with cash in hand.
Ready to purchase a new ride? Bad credit doesn't have to stop you. Apply today through myAutoloan and compare up to four Asheville, NC bad credit auto loans!