What Counts as Bad Credit in Winston Salem, NC?
When you apply for any type of loan, lenders in North Carolina look at your credit score to determine the chances of you repaying it. Many factors go into 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 Winston Salem, NC lender will have its own guidelines for what’s considered a poor credit score, you could be seen as having bad credit if your score sits under the 600 benchmark. Lenders will also be wary if you’ve experienced bankruptcy, repossession, or foreclosure.
Can I Get a Car Loan in Winston Salem, NC If I Have 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. Still, you'll likely face some challenges financing a car with bad credit in Winston Salem, NC. For starters, not every lender offers poor or no credit loans, so it may take some extra time 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 see that your low credit score affects your loan. A poor credit score might limit your borrowing and lead to higher interest rates. This high interest rate will lead to higher monthly payments and total repayment. Use our Interest Rate Estimator and Payment Calculator to see what the monthly payment on your Winston Salem loan might look like before completing an application.
Worried about your potential interest rate and monthly payment? You should consider improving your credit score before you start applying for auto loans in Winston Salem, North Carolina. 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 Winston Salem, NC Poor Credit Car Loans
A poor credit score can raise your car loan rate, making it more important than ever to compare lenders in Winston Salem, NC and find the right deal. 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 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 select the right loan for you and head to your local Winston Salem dealership with cash in hand.
Why wait to get a new ride? Bad credit doesn't have to stop you. Apply through myAutoloan now and review up to four Winston Salem, NC bad credit car loans!