What Counts as Bad Credit in Mount Airy, NC?
When you try to borrow money — like a car loan — North Carolina lenders look at your credit score to decide the probability that you'll repay it. Your credit score is calculated using many factors, including the age of your credit accounts, the number of open accounts you have, any remaining loan balances, and your repayment history. While every Mount Airy, NC lender has its own criteria 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 Mount Airy, NC with Bad Credit?
Many borrowers have asked, “Can I get a car loan with a credit score of 600 or less?” Yes, you can. Keep in mind, financing a car with bad credit in Mount Airy, NC will come with some challenges. For starters, not every lender offers poor or no credit loans, so you may need to put in extra effort to find a lender inclined to work with you. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
When you find a lender in North Carolina, you may notice your loan is impacted by your low credit score. A poor credit score can limit your borrowing and result in higher interest rates. This high interest rate will also mean higher monthly payments and overall repayment. Use our Interest Rate Estimator and Payment Calculator to see what the monthly payment on your Mount Airy loan might look like before you apply.
Do your potential interest rate and monthly payment have you worried? You might want to consider increasing your credit score before applying for auto loans in Mount Airy, 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 Mount Airy, NC Poor Credit Car Loans
A low credit score can increase your car loan rate, so it's more critical than ever to compare costs and find the right loan in Mount Airy, NC. myAutoloan is here to help you find the best loan — no matter your credit history. All you have to do is select your offer type and complete a confidential, secure application. We'll show you up to four loans in minutes so you can easily compare rates. Then, you can select the loan that looks best to you and head down to your go-to dealership in Mount Airy with a check in hand.
Why wait to get a new ride? Bad credit doesn't have to get in the way. Apply through myAutoloan now and review up to four Mount Airy, NC bad credit car loans!