How Do I Know If I Have Bad Credit in Wendell, NC?
When you apply for a car loan, mortgage, or another type of loan, lenders in North Carolina use your credit score to determine the likelihood of you repaying it. Many factors influence your credit score, including the number of open accounts you have, your repayment history, the age of your credit accounts, and any remaining loan balances. While every Wendell, NC lender has its own benchmarks for what it deems a poor credit score, you may be seen as having bad credit if your score falls below 600. Lenders will also be nervous if you've gone through bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Wendell, 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. However, financing a car in Wendell, NC with bad credit won't necessarily be easy. First off, not every lender feels comfortable giving loans to people with poor or no credit, 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.
When you find 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. This high interest rate will lead to higher monthly payments and more spent over the life of the loan. Our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Wendell loan could look like before you apply.
Do your potential interest rate and monthly payment have you worried? You might want to look into improving your credit score before you start applying for auto loans in Wendell, North Carolina. Study 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 Wendell, NC Poor Credit Car Loans
A bad credit score can increase your car loan rate, making it more important than ever to compare lending options and find the right deal in Wendell, NC. myAutoloan is here to help you find the best loan — despite your credit history. Simply 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. Then, you can choose the best loan for you and head to your local Wendell dealership with money in hand.
Need a new ride? Bad credit doesn't have to stop you. Apply today through myAutoloan and compare up to four Wendell, NC bad credit auto loans!