What Counts as Bad Credit in Goldsboro, NC?
When you borrow money — like a car loan — North Carolina lenders look at your credit score to determine the probability that you'll repay it. Many factors influence your credit score, including any remaining loan balances, your repayment history, the number of open accounts you have, and the age of your credit accounts. While every Goldsboro, NC lender has its own guidelines for what it considers a poor credit score, you might be seen as having bad credit if your score sits under the 600 benchmark. Lenders will also be more cautious if you’ve experienced bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Goldsboro, NC with Bad Credit?
You’re not the first car buyer asking, “Can I get a car loan with a credit score of 600 or less?” Yes, you can. However, you'll likely face some challenges financing a car with bad credit in Goldsboro, NC. First off, not every lender offers poor or no credit loans, so you may need to put in extra effort 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 impacts your loan. A poor credit score might limit your borrowing and lead to higher interest rates. This high interest rate will also mean higher 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 Goldsboro loan could look like before you apply.
Do your potential interest rate and monthly payment have you worried? You may want to consider improving your credit score before applying for Goldsboro, North Carolina auto loans. 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 Poor Credit Car Loans in Goldsboro, NC
A low credit score can increase your car loan rate, making it more critical than ever to compare lenders in Goldsboro, NC and find the right deal. myAutoloan wants to make sure you find the best loan — regardless of your credit history. All you have to do is select your offer type and complete our secure, confidential application. You'll see up to four loans at once so you can compare rates in minutes. After, you can select the best loan for you and head down to your go-to dealership in Goldsboro with money in hand.
Why wait to get a new ride? Bad credit doesn't have to stop you. Apply through myAutoloan now and review up to four Goldsboro, NC bad credit car loans!