What Counts as Bad Credit in Graham, NC?
When you borrow money — like a car loan — lenders in North Carolina use your credit score to figure out how likely you are to repay it. Many factors play into 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 each Graham, NC lender has its own criteria 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 worried if you've gone through bankruptcy, repossession, or foreclosure.
Can I Get a Car Loan in Graham, NC If I Have Bad Credit?
Many car buyers have asked, “Can I get a car loan with a credit score of 600 or less?” The short answer? Yes. Keep in mind, you'll likely face some challenges financing a car with bad credit in Graham, NC. Most notably, 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 has lending partners that specialize in bad credit loans.
Once you've found a lender in North Carolina, you may notice your low credit score impacts your loan. A poor credit score can result in limited borrowing and higher interest rates. This high interest rate will also mean higher monthly payments and total repayment. With our Interest Rate Estimator and Payment Calculator, you can see what the monthly payment on your Graham loan might be before filling out an application.
Concerned about your possible interest rate and monthly payment? You should consider increasing your credit score before applying for Graham, North Carolina auto loans. Take a look at our Guide to Better Credit for Auto Financing to learn about credit scores and how you can quickly raise yours.
Find the Best Deal in Graham, NC for Bad Credit Car Loans
A low credit score can raise your car loan rate, making it more crucial than ever to compare lenders in Graham, NC and find the right deal. myAutoloan wants to make sure you find the best loan — regardless of your credit history. Simply choose 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. Then, you can select the loan that looks best to you and visit any dealership in Graham with cash in hand.
Need a new ride? Poor credit shouldn't stop you. Apply through myAutoloan now and review up to four Graham, NC bad credit car loans!