What Is Considered Bad Credit in Washington, NC?
When you apply for any type of loan, North Carolina lenders use your credit score to evaluate the chances of you repaying it. Many factors influence 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 Washington, NC lender has its own guidelines for what it considers a poor credit score, you might be seen as having bad credit if your score falls below 600. Lenders will also be more cautious if you've gone through bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Washington, 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?” The short answer? Yes. However, it's going to be harder to finance a car with bad credit in Washington, NC. Most notably, not every lender is willing to give a loan to someone with poor or no credit, so you may need to put in extra effort to find a lender who will 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 learn your low credit score changes your loan. You may have limited borrowing power and a higher interest rate due to your poor credit score. Higher interest rates will mean higher 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 Washington loan before you apply.
Worried about your potential interest rate and monthly payment? You should think about improving your credit score before you apply for Washington, North Carolina car loans. View 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 Bad Credit Car Loans in Washington, NC
A low credit score can increase the rate on your car loan, making it more important than ever to compare costs to find the right deal in Washington, NC. myAutoloan wants to help you find the best loan — despite your credit history. All you have to do is choose 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. Then, you can choose the best loan for you and head to your favorite Washington dealership with cash in hand.
Ready to purchase a new ride? Bad credit doesn't have to stop you. Apply with myAutoloan today and compare up to four bad credit auto loans in Washington, NC!