Do I Have Bad Credit in Wilson, NC?
When you borrow money — like a car loan — North Carolina lenders look at your credit score to figure out the chances of you repaying it. Many factors play into 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 lender in Wilson, NC will have its own guidelines for what's considered a low credit score, you might be seen as having bad credit if you have a score below 600. Lenders will also be nervous if you have a history of bankruptcy, foreclosure, or repossession.
Is it Possible to Get a Car Loan in Wilson, NC with Bad Credit?
Many car buyers have asked, “Can I get a car loan with a credit score of 600 or less?” The short answer? Yes. But, you'll likely face some challenges financing a car with bad credit in Wilson, NC. To begin with, not all lenders are willing to give a loan to someone with no or poor credit, so you may need to put in extra effort to find a lender willing to work with you. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
Once you've chosen a lender in North Carolina, you may notice your low credit score changes your loan. A poor credit score can result in limited borrowing and higher interest rates. High interest rates also mean higher monthly payments and total repayment. Use our Interest Rate Estimator and Payment Calculator to see what the monthly payment on your Wilson loan might look like before you apply.
Concerned about your possible interest rate and monthly payment? You should think about boosting your credit score before applying for auto loans in Wilson, 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 Wilson, NC for Bad Credit Car Loans
A low credit score can raise the rate on your car loan, making it more important than ever to compare lenders in Wilson, NC and find the right deal. myAutoloan is here to help you find the best loan — even without the best credit history. Simply choose your offer type and complete our secure, confidential application. We’ll show you up to four loans at a time so you can compare rates in minutes. To finish, you can choose the best loan for you and head to your local Wilson dealership with cash in hand.
Why wait to get a new ride? Your poor credit doesn’t have to stop you. Apply today through myAutoloan and compare up to four Wilson, NC bad credit auto loans!