What Counts as Bad Credit in Lowell, NC?
When you apply for any type of loan, North Carolina lenders use your credit score to evaluate the likelihood of you repaying 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 each lender in Lowell, NC will have its own guidelines for what’s considered a poor credit score, you are often seen as having bad credit if your score sits under the 600 benchmark. Lenders will also be nervous if you have a history of bankruptcy, foreclosure, or repossession.
Can I Still Get a Car Loan in Lowell, NC with Low Credit?
Many car buyers have asked, “Can I get a car loan with a credit score of 600 or less?” The simple answer is yes. But, financing a car in Lowell, NC with bad credit won't necessarily be easy. To begin with, not every lender feels comfortable giving loans to people with poor or no credit, so you may need to put in some extra hours to find a lender who will help with your financing. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
Once you've chosen a lender in North Carolina, you may learn your low credit score impacts your loan. A poor credit score can limit your borrowing and result in higher interest rates. This high interest rate will lead to higher monthly payments and overall loan costs. With our Interest Rate Estimator and Payment Calculator, you can see what the monthly payment on your Lowell loan could look like before filling out an application.
Concerned about your possible interest rate and monthly payment? You should look into improving your credit score before applying for auto loans in Lowell, North Carolina. View our Guide to Better Credit for Auto Financing for help understanding and quickly raising 7our credit.
Find the Best Deal on Poor Credit Car Loans in Lowell, NC
A poor credit score can raise the rate on your car loan, making it more important than ever to compare costs and find the right loan in Lowell, NC. myAutoloan is here to help you find the best loan — despite your credit history. All you have to do is select your offer type and complete our secure, confidential application. We’ll show you up to four loans at a time so you can compare rates in minutes. Then, you can select the right loan for you and head to your local Lowell dealership with money in hand.
Need a new ride? Your poor credit doesn’t have to stop you. Apply now and compare up to four bad credit auto loans in Lowell, NC through myAutoloan!