What Counts as Bad Credit in Spruce Pine, NC?
When you apply for any type of loan, lenders in North Carolina use your credit score to evaluate 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 Spruce Pine, NC lender has its own criteria for what's considered a bad credit score, you might be seen as having bad credit if your score is less than 600. Lenders will also be wary if you've gone through bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Spruce Pine, 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, it's going to be harder to finance a car with bad credit in Spruce Pine, NC. First off, not every lender is willing to give a loan to someone with poor or no credit, so you may need to spend some extra time finding a lender who will help with your financing. Luckily, myAutoloan partners with lenders specializing in bad credit car loans.
Once you find a lender in North Carolina, you may notice your low credit score changes 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 more spent over the life of the loan. Use our Interest Rate Estimator and Payment Calculator to see an estimate for the monthly payment on your Spruce Pine loan before you apply.
Concerned about your possible interest rate and monthly payment? You may want to consider improving your credit score before applying for auto loans in Spruce Pine, North Carolina. View our Guide to Better Credit for Auto Financing for information about credit scores and tips for quickly raising yours.
Find the Best Deal in Spruce Pine, NC for Bad Credit Car Loans
A bad credit score can raise the rate on your car loan, making it more important than ever to compare lending options and find the right deal in Spruce Pine, NC. myAutoloan wants to help you find the best loan — regardless of your credit history. All you have to do is select your offer type and complete our secure, confidential application. We'll show you up to four loans at once, allowing you to compare rates in minutes. Finally, you can select the loan that looks best to you and head to your favorite Spruce Pine dealership with a check in hand.
Need a new ride? Your poor credit doesn’t have to stop you. Apply through myAutoloan now and review up to four Spruce Pine, NC bad credit car loans!