What Is Considered Bad Credit in Hickory, 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 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 Hickory, NC lender will have its own guidelines 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 wary if you have a history of bankruptcy, foreclosure, or repossession.
Can I Still Get a Car Loan in Hickory, NC with Bad Credit?
You're not the first car buyer to wonder, “Can I get a car loan with a credit score of 600 or less?” Yes, you can. Keep in mind, you'll likely face some challenges financing a car with bad credit in Hickory, NC. To begin with, not all lenders are willing to give a loan to someone with no or poor credit, so you may need to put in extra effort to find a lender who will help with your financing. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
Once you've chosen a lender in North Carolina, you may discover your low credit score changes your loan. A poor credit score can limit your borrowing and result in higher interest rates. This high interest rate will lead to larger monthly payments and overall loan costs. With our Interest Rate Estimator and Payment Calculator, you can see what the monthly payment on your Hickory loan might look like before you apply.
Worried about your potential interest rate and monthly payment? You may want to contemplate raising your credit score before applying for Hickory, North Carolina auto loans. View 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 Hickory, NC for Bad Credit Car Loans
A low credit score can raise your car loan rate, making it more crucial than ever to compare costs to find the right deal in Hickory, NC. At myAutoloan, we want to help you find the best loan — regardless of your credit history. All you have to do is choose your offer type and complete or confidential and secure application. We’ll show you up to four loans at a time so you can compare rates in minutes. To finish, you can select the right loan for you and head down to your go-to dealership in Hickory with money in hand.
Why wait to get a new ride? Your poor credit doesn’t have to stop you. Apply now and compare up to four bad credit auto loans in Hickory, NC through myAutoloan!