What Counts as Bad Credit in Roanoke Rapids, NC?
When you try to borrow money — like a car loan — lenders in North Carolina look at your credit score to evaluate how likely you are to repay it. Your credit score is calculated using many factors, including your repayment history, the number of accounts you have open, the age of your credit accounts, and any remaining loan balances. While each lender in Roanoke Rapids, NC will have its own guidelines for what’s considered a poor credit score, you could be seen as having bad credit if your score is less than 600. Lenders will also be worried if you've experienced repossession, bankruptcy, or foreclosure.
Is it Possible to Get a Car Loan in Roanoke Rapids, NC with Bad Credit?
You’re not the first car buyer asking, “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 Roanoke Rapids, NC will come with some challenges. For starters, not all lenders are willing to give a loan to someone with no or poor credit, so it may take some extra time 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 found a lender in North Carolina, you may see that your low credit score changes your loan. You may have limited borrowing power and a higher interest rate due to your poor credit score. This high interest rate will lead to higher monthly payments and more spent over the life of the loan. Our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Roanoke Rapids loan might look like before completing an application.
Worried about your potential interest rate and monthly payment? You might want to consider improving your credit score before applying for Roanoke Rapids, North Carolina auto 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 Roanoke Rapids, NC Poor Credit Car Loans
A poor credit score can increase the rate on your car loan, so it's more critical than ever to compare lending options and find the right deal in Roanoke Rapids, NC. myAutoloan wants to help you find the best loan — regardless of your credit history. Simply choose your offer type and fill out our secure, confidential 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 visit any dealership in Roanoke Rapids with cash in hand.
Why wait to get a new ride? Your poor credit doesn’t have to stop you. Apply now and compare up to four bad credit auto loans in Roanoke Rapids, NC through myAutoloan!