How Do I Know If I Have Bad Credit in Rockingham, NC?
When you borrow money — like a car loan — lenders in North Carolina look at your credit score to evaluate the likelihood of you repaying it. Many factors play into your credit score, including the age of your credit accounts, the number of open accounts you have, any remaining loan balances, and your repayment history. While every Rockingham, NC lender has its own guidelines for what’s considered a poor credit score, you may be seen as having bad credit if your score falls below 600. Lenders will also be more cautious if you've experienced repossession, bankruptcy, or foreclosure.
Can I Get a Car Loan in Rockingham, NC If I Have 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 is yes. Keep in mind, it's going to be harder to finance a car with bad credit in Rockingham, NC. First off, not every lender feels comfortable giving loans to people with poor or no credit, so you may need to put in some extra hours to find a lender inclined to work with you. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
Once you find a lender in North Carolina, you may see that your low credit score impacts your loan. A poor credit score can result in limited borrowing and higher interest rates. High interest rates also mean higher monthly payments and more spent over the life of the loan. With our Interest Rate Estimator and Payment Calculator, you can see an estimate for the monthly payment on your Rockingham loan before even applying.
Concerned about your possible interest rate and monthly payment? You might want to contemplate boosting your credit score before applying for Rockingham, 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 Rockingham, NC Poor Credit Car Loans
A bad credit score can increase the rate on your car loan, making it more crucial than ever to compare costs and find the right loan in Rockingham, NC. At myAutoloan, we want to help you find the best loan — regardless of your credit history. All you have to do is select 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. After, you can choose the best loan for you and head to your local Rockingham dealership with a loan 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 Rockingham, NC!