How Do I Know If I Have Bad Credit in Gastonia, NC?
When you apply for any type of loan, North Carolina lenders use your credit score to determine 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 Gastonia, NC lender has its own benchmarks for what it considers a poor 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 repossession, bankruptcy, or foreclosure.
Is it Possible to Get a Car Loan in Gastonia, NC with Bad Credit?
Many car buyers have asked, “Can I get a car loan with a credit score of 600 or less?” The short answer is yes. Keep in mind, it's going to be harder to finance a car with bad credit in Gastonia, NC. To begin with, 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 who will work with you. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
When you find a lender in North Carolina, you may see that your loan is impacted by your low credit score. A poor credit score might limit your borrowing and lead to higher interest rates. Higher interest rates will mean higher monthly payments and total repayment. Use our Interest Rate Estimator and Payment Calculator to see an estimate for the monthly payment on your Gastonia loan before even applying.
Concerned about your possible interest rate and monthly payment? You may want to look into boosting your credit score before applying for auto loans in Gastonia, 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 Bad Credit Car Loans in Gastonia, NC
A poor 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 Gastonia, NC. myAutoloan wants to make sure you find the best loan — no matter your credit history. All you need to do is select your offer type and fill out our secure, confidential application. You'll see up to four loans at once so you can compare rates in minutes. To finish, you can choose the best loan for you and head to your local Gastonia dealership with a loan in hand.
Ready to purchase your next ride? Bad credit doesn't have to stop you. Apply with myAutoloan today and compare up to four bad credit auto loans in Gastonia, NC!