How Do I Know If I Have Bad Credit in Carthage, NC?
When you borrow money — like a car loan — lenders in North Carolina look at your credit score to determine the probability that you'll repay it. Your credit score is calculated using many factors, including the number of open accounts you have, your repayment history, the age of your credit accounts, and any remaining loan balances. While each Carthage, NC lender has its own benchmarks for what’s considered a poor credit score, you may be seen as having bad credit if your score falls below 600. Lenders will also be worried if you've experienced repossession, bankruptcy, or foreclosure.
Can I Still Get a Car Loan in Carthage, NC with Bad Credit?
Many borrowers have asked, “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 Carthage, NC will come with some challenges. Most notably, 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 willing to work with you. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
Once you've found a lender in North Carolina, you may discover your low credit score affects 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. With our Interest Rate Estimator and Payment Calculator, you can see what the monthly payment on your Carthage loan could look like before you apply.
Concerned about your possible interest rate and monthly payment? You might want to look into boosting your credit score before applying for auto loans in Carthage, North Carolina. Check out our Guide to Better Credit for Auto Financing to learn about credit scores and how you can quickly raise yours.
Find the Best Deal on Carthage, NC Poor Credit Car Loans
A bad credit score can raise the rate on your car loan, so it's more critical than ever to compare costs to find the right deal in Carthage, NC. myAutoloan wants to help you find the best loan — even without the best credit history. All you need 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. After, you can select the right loan for you and head down to your go-to dealership in Carthage with a loan in hand.
Need a new ride? Your poor credit doesn’t have to stop you. Apply now and compare up to four bad credit auto loans in Carthage, NC through myAutoloan!