What Counts as Bad Credit in Waynesville, NC?
When you apply for any type of loan, North Carolina lenders look at your credit score to evaluate the chances of you repaying it. Your credit score is calculated using many factors, including any remaining loan balances, your repayment history, the number of open accounts you have, and the age of your credit accounts. While every Waynesville, NC lender has its own criteria for what it deems a poor credit score, you could 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 Get a Car Loan in Waynesville, NC If I Have 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, you'll likely face some challenges financing a car with bad credit in Waynesville, NC. First off, 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 work with you. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
Once you find a lender in North Carolina, you may see that your loan is impacted by your low credit score. A poor credit score might limit your borrowing and lead to higher interest rates. This high interest rate will also mean larger monthly payments and overall repayment. Tools like our Interest Rate Estimator and Payment Calculator can help you see an estimate for the monthly payment on your Waynesville loan before even applying.
Do your potential interest rate and monthly payment have you worried? You should consider improving your credit score before you start applying for auto loans in Waynesville, North Carolina. Study 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 Waynesville, NC for Bad Credit Car Loans
A bad credit score can increase the rate on your car loan, making it more crucial than ever to compare lenders in Waynesville, NC and find the right deal. myAutoloan wants to make sure you find the best loan — despite your credit history. All you have to do is choose your offer type and complete our secure, confidential application. We'll show you up to four loans in minutes so you can easily compare rates. To finish, you can choose the best loan for you and head down to your go-to dealership in Waynesville with cash in hand.
Need a new ride? Bad credit doesn't have to stop you. Apply through myAutoloan now and review up to four Waynesville, NC bad credit car loans!