What Counts as Bad Credit in Marion, NC?
When you apply for a car loan, mortgage, or another type of loan, North Carolina lenders look at your credit score to figure out the chances of you repaying it. Many factors play into your credit score, including any remaining loan balances, your repayment history, the number of open accounts you have, and the age of your credit accounts. While every Marion, NC lender will have its own guidelines for what it deems a poor credit score, you could be seen as having bad credit if your score is lower than 600. Lenders will also be worried if you've experienced repossession, bankruptcy, or foreclosure.
Can I Still Get a Car Loan in Marion, NC with Low Credit?
Many car buyers have asked, “Can I get a car loan with a credit score of 600 or less?” The short answer is yes. But, financing a car with bad credit in Marion, NC will come with some challenges. Most notably, not every lender offers poor or no credit loans, so you may need to spend some extra time finding a lender willing to work with you. The good news is that myAutoloan partners with lenders specializing 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 might limit your borrowing and lead to higher interest rates. This high interest rate will lead to higher monthly payments and overall loan costs. Use our Interest Rate Estimator and Payment Calculator to see what the monthly payment on your Marion loan might look like before completing an application.
Do your potential interest rate and monthly payment have you sweating? You should think about improving your credit score before you start applying for auto loans in Marion, North Carolina. Check out 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 Marion, NC
A bad credit score can increase the rate on your car loan, making it more critical than ever to compare lenders in Marion, NC and find the right deal. myAutoloan wants to help you find the best loan — no matter your credit history. Simply choose your offer type and complete a confidential, secure application. We'll show you up to four loans at once, allowing you to compare rates in minutes. To finish, you can select the loan that looks best to you and head down to your go-to dealership in Marion 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 Marion, NC through myAutoloan!