What Counts as Bad Credit in Lillington, NC?
When you borrow money — like a car loan — North Carolina lenders look at your credit score to evaluate how likely you are to repay it. Many factors go into your credit score, including the age of your credit accounts, the number of open accounts you have, any remaining loan balances, and your repayment history. While every lender in Lillington, NC has its own guidelines for what's considered a bad credit score, you may be seen as having bad credit if you have a score below 600. Lenders will also be wary if you have a history of bankruptcy, foreclosure, or repossession.
Is it Possible to Get a Car Loan in Lillington, NC with Bad Credit?
Many borrowers have asked, “Can I get a car loan with a credit score of 600 or less?” The short answer? Yes. But, financing a car with bad credit in Lillington, NC will come with some challenges. First off, not every lender is willing to give a loan to someone with poor or no credit, so you may need to put in some extra hours to find a lender willing to work with you. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
Once you've chosen a lender in North Carolina, you may see that your low credit score impacts your loan. A poor credit score might limit your borrowing and lead to higher interest rates. High interest rates also mean larger monthly payments and overall loan costs. Our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Lillington loan might be before filling out an application.
Worried about your potential interest rate and monthly payment? You may want to think about raising your credit score before you start applying for auto loans in Lillington, North Carolina. Study 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 Lillington, NC
A poor credit score can increase your car loan rate, making it more crucial than ever to compare lenders in Lillington, NC and find the right deal. myAutoloan wants to make sure you find the best loan — even without the best 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 once, allowing you to compare rates in minutes. Then, you can select the loan that looks best to you and visit any dealership in Lillington with cash in hand.
Need a new ride? Bad credit doesn't have to stop you. Apply now and compare up to four bad credit auto loans in Lillington, NC through myAutoloan!