How Do I Know If I Have Bad Credit in New Bern, NC?
When you try to borrow money — like a car loan — lenders in North Carolina look at your credit score to evaluate the probability that you'll 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 lender in New Bern, NC has its own benchmarks for what's considered a low credit score, you may be seen as having bad credit if your score falls below 600. Lenders will also be nervous if you've gone through bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in New Bern, NC with Low Credit?
You’re not the first car buyer asking, “Can I get a car loan with a credit score of 600 or less?” The short answer? Yes. Keep in mind, it's going to be harder to finance a car with bad credit in New Bern, NC. To begin with, not every lender offers poor or no credit loans, so you may need to put in some extra hours to find a lender inclined 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 learn 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. Our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your New Bern loan might be before filling out an application.
Worried about your potential interest rate and monthly payment? You might want to think about boosting your credit score before applying for auto loans in New Bern, North Carolina. Take a look at our Guide to Better Credit for Auto Financing to learn about credit scores and how you can quickly raise yours.
Find the Best Deal in New Bern, NC for Bad Credit Car Loans
A bad credit score can increase the rate on your car loan, making it more critical than ever to compare lending options and find the right deal in New Bern, NC. myAutoloan is here to help you find the best loan — regardless of your credit history. All you have to do is choose your offer type and fill out our secure, confidential application. We’ll show you up to four loans at a time so you can compare rates in minutes. To finish, you can select the right loan for you and head to your local New Bern dealership with a check in hand.
Ready to purchase a new ride? Your poor credit doesn’t have to stop you. Apply with myAutoloan today and compare up to four bad credit auto loans in New Bern, NC!