What Counts as Bad Credit in Darlington, SC?
When you try to borrow money — like a car loan — South Carolina lenders look at your credit score to figure out how likely you are to repay 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 Darlington, SC lender has its own guidelines for what's considered a bad credit score, you might be seen as having bad credit if you have a score below 600. Lenders will also be wary if you have a history of bankruptcy, foreclosure, or repossession.
Is it Possible to Get a Car Loan in Darlington, SC with Bad Credit?
Many borrowers have asked, “Can I get a car loan with a credit score of 600 or less?” The short answer is yes. Still, financing a car with bad credit in Darlington, SC will come with some challenges. To begin with, 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 inclined to work with you. Luckily, myAutoloan partners with lenders specializing in bad credit car loans.
Once you find a lender in South Carolina, you may discover your low credit score impacts your loan. A poor credit score can limit your borrowing and result in higher interest rates. Higher interest rates will mean higher monthly payments and overall repayment. With our Interest Rate Estimator and Payment Calculator, you can see what the monthly payment on your Darlington loan might be before you apply.
Worried about your potential interest rate and monthly payment? You should consider increasing your credit score before you start applying for auto loans in Darlington, South Carolina. Take a look at our Guide to Better Credit for Auto Financing to better understand your credit score and how you can raise it.
Find the Best Deal in Darlington, SC for Bad Credit Car Loans
A poor credit score can increase the rate on your car loan, so it's more critical than ever to compare lenders in Darlington, SC and find the right deal. At myAutoloan, we want to help you find the best loan — despite your credit history. All you have to do is select 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. After, you can select the best loan for you and head down to your go-to dealership in Darlington with cash in hand.
Ready to purchase a new ride? Bad credit doesn't have to stop you. Apply today through myAutoloan and compare up to four Darlington, SC bad credit auto loans!