Do I Have Bad Credit in Lumberton, NC?
When you try to borrow money — like a car loan — lenders in North Carolina look at your credit score to evaluate how likely you are to repay it. Your credit score is calculated using many factors, including any remaining loan balances, your repayment history, the number of open accounts you have, and the age of your credit accounts. While each Lumberton, NC lender has its own benchmarks 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 nervous if you've gone through bankruptcy, repossession, or foreclosure.
Is it Possible to Get a Car Loan in Lumberton, 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. Keep in mind, you'll likely face some challenges financing a car with bad credit in Lumberton, NC. For starters, not all lenders are willing to give a loan to someone with no or poor credit, so you may need to spend some extra time finding a lender willing to work with you. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
Once you've chosen a lender in North Carolina, you may notice your low credit score changes your loan. A poor credit score might limit your borrowing and lead to higher interest rates. Higher interest rates will mean higher monthly payments and overall repayment. With our Interest Rate Estimator and Payment Calculator, you can see what the monthly payment on your Lumberton loan might look like before filling out an application.
Do your potential interest rate and monthly payment have you sweating? You should consider raising your credit score before applying for Lumberton, North Carolina auto loans. Take a look at our Guide to Better Credit for Auto Financing for help understanding and quickly raising 7our credit.
Find the Best Deal on Lumberton, NC Poor Credit Car Loans
A bad credit score can increase the rate on your car loan, making it more important than ever to compare costs and find the right loan in Lumberton, NC. myAutoloan wants to make sure you find the best loan — despite your 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 a time so you can compare rates in minutes. Then, you can choose the best loan for you and head to your favorite Lumberton dealership with a loan in hand.
Why wait to get a new ride? Your poor credit doesn’t have to stop you. Apply today through myAutoloan and compare up to four Lumberton, NC bad credit auto loans!