What Is Considered Bad Credit in Matthews, 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 how likely you are to repay it. Many factors influence 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 lender in Matthews, NC has its own guidelines for what's considered a bad credit score, you might be seen as having bad credit if your score is less than 600. Lenders will also be more cautious if you've experienced repossession, bankruptcy, or foreclosure.
Can I Get a Car Loan in Matthews, NC If I Have Bad 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, it's going to be harder to finance a car with bad credit in Matthews, NC. 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 extra effort to find a lender who will work with you. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
Once you've found a lender in North Carolina, you may see that 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 larger monthly payments and overall repayment. With our Interest Rate Estimator and Payment Calculator, you can see what the monthly payment on your Matthews loan might be before filling out an application.
Concerned about your possible interest rate and monthly payment? You may want to contemplate improving your credit score before you start applying for auto loans in Matthews, North Carolina. Study our Guide to Better Credit for Auto Financing for help understanding and quickly raising 7our credit.
Find the Best Deal on Matthews, NC Poor Credit Car Loans
A poor credit score can increase the rate on your car loan, making it more critical than ever to compare costs and find the right loan in Matthews, NC. At myAutoloan, we want to help you find the best loan — despite 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. Finally, you can select the right loan for you and head to your local Matthews dealership with money in hand.
Ready to purchase a new ride? Bad credit doesn't have to stop you. Apply today through myAutoloan and compare up to four Matthews, NC bad credit auto loans!