What Counts as Bad Credit in Pittsboro, NC?
When you borrow money — like a car loan — lenders in North Carolina use your credit score to evaluate the probability that you'll repay it. Many factors influence your credit score, including the number of open accounts you have, your repayment history, the age of your credit accounts, and any remaining loan balances. While every lender in Pittsboro, NC has its own guidelines 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 worried if you've gone through bankruptcy, repossession, or foreclosure.
Is it Possible to Get a Car Loan in Pittsboro, NC with Bad Credit?
You're not the first car buyer to wonder, “Can I get a car loan with a credit score of 600 or less?” The short answer? Yes. Still, financing a car in Pittsboro, NC with bad credit won't necessarily be easy. First off, not every lender offers poor or no credit loans, so it may take some extra time to find a lender willing to work with you. Luckily, myAutoloan partners with lenders specializing in bad credit car loans.
Once you've chosen a lender in North Carolina, you may see that your low credit score affects your loan. A poor credit score can limit your borrowing and result in higher interest rates. This high interest rate will also mean larger monthly payments and overall repayment. Tools like our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Pittsboro loan might be before completing an application.
Worried about your potential interest rate and monthly payment? You may want to look into increasing your credit score before you apply for Pittsboro, North Carolina car loans. Study our Guide to Better Credit for Auto Financing to better understand your credit score and how you can raise it.
Find the Best Deal on Poor Credit Car Loans in Pittsboro, NC
A low credit score can increase the rate on your car loan, so it's more critical than ever to compare lenders in Pittsboro, NC and find the right deal. myAutoloan wants to help you find the best loan — even without the best credit history. Simply choose your offer type and fill out our secure, confidential application. We'll show you up to four loans at once, allowing you to compare rates in minutes. Finally, you can choose the best loan for you and head down to your go-to dealership in Pittsboro with a loan in hand.
Ready to purchase your next ride? Poor credit shouldn't stop you. Apply through myAutoloan now and review up to four Pittsboro, NC bad credit car loans!