Do I Have Bad Credit in Cary, NC?
When you try to borrow money — like a car loan — North Carolina lenders look at your credit score to decide the likelihood of you repaying it. Many factors go 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 lender in Cary, NC will have its own guidelines for what’s considered a poor credit score, you might be seen as having bad credit if you have a score below 600. Lenders will also be worried if you've gone through bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Cary, NC with Low Credit?
Many car buyers have asked, “Can I get a car loan with a credit score of 600 or less?” Yes, you can. Still, it's going to be harder to finance a car with bad credit in Cary, NC. For starters, 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. Luckily, myAutoloan partners with lenders specializing in bad credit car loans.
Once you find a lender in North Carolina, you may learn your low credit score impacts your loan. You may have limited borrowing power and a higher interest rate due to your poor credit score. This high interest rate will also 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 Cary loan could look like before filling out an application.
Do your potential interest rate and monthly payment have you sweating? You might want to consider raising your credit score before applying for auto loans in Cary, North Carolina. View our Guide to Better Credit for Auto Financing for information about credit scores and tips for quickly raising yours.
Find the Best Deal on Cary, NC Poor Credit Car Loans
A bad credit score can raise your car loan rate, so it's more critical than ever to compare lenders in Cary, NC and find the right deal. myAutoloan is here to help you find the best loan — despite your credit history. All you have to do is select your offer type and fill out our secure, confidential application. We'll show you up to four loans at once, allowing you to compare rates in minutes. To finish, you can select the right loan for you and head down to your go-to dealership in Cary with a check in hand.
Ready to purchase a new ride? Poor credit shouldn't stop you. Apply through myAutoloan now and review up to four Cary, NC bad credit car loans!