What Counts as Bad Credit in Shallotte, NC?
When you apply for any type of loan, North Carolina lenders use your credit score to decide the likelihood of you repaying 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 every Shallotte, NC lender will have its own guidelines for what's considered a low credit score, you could be seen as having bad credit if your score is less than 600. Lenders will also be nervous if you’ve experienced bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Shallotte, 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?” Yes, you can. But, you'll likely face some challenges financing a car with bad credit in Shallotte, NC. Most notably, not all lenders are willing to give a loan to someone with no or poor credit, so you may need to put in extra effort to find a lender who will help with your financing. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
Once you've found a lender in North Carolina, you may notice your low credit score changes your loan. A poor credit score can result in limited borrowing and higher interest rates. High interest rates also mean higher monthly payments and overall repayment. With our Interest Rate Estimator and Payment Calculator, you can see what the monthly payment on your Shallotte loan might look like before even applying.
Worried about your potential interest rate and monthly payment? You may want to consider boosting your credit score before applying for auto loans in Shallotte, North Carolina. Study our Guide to Better Credit for Auto Financing for help understanding and quickly raising 7our credit.
Find the Best Deal in Shallotte, NC for Bad Credit Car Loans
A low credit score can raise the rate on your car loan, so it's more critical than ever to compare lending options and find the right deal in Shallotte, NC. myAutoloan wants to help you find the best loan — regardless of your credit history. All you need to do is select your offer type and complete or confidential and secure application. You'll see up to four loans at once so you can compare rates in minutes. To finish, you can select the loan that looks best to you and head down to your go-to dealership in Shallotte with cash in hand.
Ready to purchase a new ride? Your poor credit doesn’t have to stop you. Apply today through myAutoloan and compare up to four Shallotte, NC bad credit auto loans!