How Do I Know If I Have Bad Credit in High Point, NC?
When you apply for a car loan, mortgage, or another type of loan, lenders in North Carolina look at your credit score to decide the likelihood of you repaying it. Many factors influence 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 every High Point, NC lender will have its own guidelines for what’s considered a poor credit score, you are often seen as having bad credit if your score falls below 600. Lenders will also be nervous if you’ve experienced bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in High Point, 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?” The short answer? Yes. But, you'll likely face some challenges financing a car with bad credit in High Point, 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 inclined to 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 learn your low credit score affects your loan. A poor credit score can limit your borrowing and result in higher interest rates. This high interest rate will also mean higher monthly payments and overall loan costs. Tools like our Interest Rate Estimator and Payment Calculator can help you see an estimate for the monthly payment on your High Point loan before filling out an application.
Do your potential interest rate and monthly payment have you sweating? You may want to contemplate boosting your credit score before applying for auto loans in High Point, North Carolina. Take a look at our Guide to Better Credit for Auto Financing to better understand your credit score and how you can raise it.
Find the Best Deal in High Point, NC for Bad Credit Car Loans
A low credit score can raise the rate on your car loan, making it more crucial than ever to compare lenders in High Point, NC and find the right deal. myAutoloan wants to help you find the best loan — even without the best credit history. All you have to do is choose your offer type and complete our secure, confidential application. We'll show you up to four loans at once, allowing you to compare rates in minutes. After, you can select the best loan for you and head down to your go-to dealership in High Point with money in hand.
Ready to purchase your next ride? Bad credit doesn't have to stop you. Apply now and compare up to four bad credit auto loans in High Point, NC through myAutoloan!