What Counts as Bad Credit in Thomasville, NC?
When you try to borrow money — like a car loan — lenders in North Carolina look at your credit score to decide the probability that you'll repay it. Many factors influence your credit score, including your repayment history, the number of accounts you have open, the age of your credit accounts, and any remaining loan balances. While every Thomasville, NC lender has its own guidelines for what it considers a poor credit score, you may 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.
Is it Possible to Get a Car Loan in Thomasville, 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. But, you'll likely face some challenges financing a car with bad credit in Thomasville, NC. To begin with, not every lender is willing to give a loan to someone with poor or no credit, so it may take some extra time 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 affects your loan. A poor credit score can result in limited borrowing and higher interest rates. This high interest rate will lead to higher monthly payments and overall loan costs. Our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Thomasville loan might be before you apply.
Do your potential interest rate and monthly payment have you worried? You may want to look into boosting your credit score before applying for Thomasville, North Carolina auto loans. Take a look at our Guide to Better Credit for Auto Financing to learn about credit scores and how you can quickly raise yours.
Find the Best Deal in Thomasville, NC for Bad Credit Car Loans
A poor credit score can raise the rate on your car loan, making it more important than ever to compare costs to find the right deal in Thomasville, NC. myAutoloan is here to help you find the best loan — even without the best credit history. All you need to do is select your offer type and complete a confidential, secure application. We'll show you up to four loans at once, allowing you to compare rates in minutes. To finish, you can choose the best loan for you and head to your local Thomasville dealership with cash in hand.
Why wait to get a new ride? Bad credit doesn't have to get in the way. Apply through myAutoloan now and review up to four Thomasville, NC bad credit car loans!