Do I Have Bad Credit in Shelby, NC?
When you try to borrow money — like a car loan — lenders in North Carolina use your credit score to evaluate how likely you are to repay it. Many factors play into your credit score, including any remaining loan balances, your repayment history, the number of open accounts you have, and the age of your credit accounts. While every lender in Shelby, NC will have its own guidelines for what's considered a low credit score, you might be seen as having bad credit if your score is lower than 600. Lenders will also be wary if you’ve experienced bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Shelby, NC with Low 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. Keep in mind, financing a car in Shelby, NC with bad credit won't necessarily be easy. For starters, not every lender offers poor or no credit loans, so you may need to put in extra effort to find a lender willing 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. A poor credit score can result in limited borrowing and higher interest rates. High interest rates also mean larger monthly payments and more spent over the life of the loan. With our Interest Rate Estimator and Payment Calculator, you can see what the monthly payment on your Shelby loan could look like before even applying.
Concerned about your possible interest rate and monthly payment? You might want to think about improving your credit score before you start applying for auto loans in Shelby, North Carolina. Study our Guide to Better Credit for Auto Financing for information about credit scores and tips for quickly raising yours.
Find the Best Deal in Shelby, NC for Bad Credit Car Loans
A poor credit score can raise your car loan rate, so it's more critical than ever to compare lenders in Shelby, NC and find the right deal. myAutoloan is here to help you find the best loan — despite your credit history. All you need to do is select your offer type and complete or confidential and secure application. We'll show you up to four loans in minutes so you can easily compare rates. To finish, you can select the best loan for you and head to your favorite Shelby dealership with cash 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 Shelby, NC!