What Counts as Bad Credit in Burgaw, NC?
When you borrow money — like a car loan — North Carolina lenders look at your credit score to decide how likely you are to repay it. Many factors play into 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 Burgaw, NC lender has its own criteria for what's considered a low credit score, you might be seen as having bad credit if your score is lower than 600. Lenders will also be more cautious if you’ve experienced bankruptcy, repossession, or foreclosure.
Is it Possible to Get a Car Loan in Burgaw, NC 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. But, financing a car in Burgaw, NC with bad credit won't necessarily be easy. For starters, 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 inclined to work with you. Luckily, myAutoloan partners with lenders specializing in bad credit car loans.
Once you've found a lender in North Carolina, you may learn 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 lead to higher monthly payments and overall loan costs. Our Interest Rate Estimator and Payment Calculator can help you see an estimate for the monthly payment on your Burgaw loan before filling out an application.
Do your potential interest rate and monthly payment have you worried? You may want to think about increasing your credit score before you apply for Burgaw, North Carolina car loans. Take a look at 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 Poor Credit Car Loans in Burgaw, NC
A low credit score can increase your car loan rate, making it more crucial than ever to compare lenders in Burgaw, NC and find the right deal. myAutoloan wants to make sure you find the best loan — even without the best credit history. All you have to do is select your offer type and complete a confidential, secure application. You'll see up to four loans at once so you can compare rates in minutes. Then, you can select the loan that looks best to you and head to your local Burgaw dealership with money in hand.
Why wait to get a new ride? Poor credit shouldn't stop you. Apply with myAutoloan today and compare up to four bad credit auto loans in Burgaw, NC!