What Is Considered Bad Credit in Edgefield, SC?
When you apply for any type of loan, South Carolina lenders look at your credit score to determine the chances of you repaying it. Many factors go into your credit score, including any remaining loan balances, your repayment history, the number of open accounts you have, and the age of your credit accounts. While every lender in Edgefield, SC will have its own guidelines for what it deems a poor credit score, you are often seen as having bad credit if your score is lower than 600. Lenders will also be worried if you’ve experienced bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Edgefield, SC with Low 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 is yes. Still, financing a car in Edgefield, SC with bad credit won't necessarily be easy. Most notably, not every lender feels comfortable giving loans to people with poor or no credit, so you may need to put in some extra hours to find a lender willing to work with you. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
Once you find a lender in South Carolina, you may learn your low credit score changes 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 more spent over the life of the loan. Use our Interest Rate Estimator and Payment Calculator to see what the monthly payment on your Edgefield loan might look like before filling out an application.
Do your potential interest rate and monthly payment have you sweating? You should look into boosting your credit score before you apply for Edgefield, South Carolina car loans. 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 Poor Credit Car Loans in Edgefield, SC
A bad credit score can raise the rate on your car loan, making it more crucial than ever to compare costs and find the right loan in Edgefield, SC. At myAutoloan, we want to help you find the best loan — regardless of your credit history. Simply choose your offer type and complete our secure, confidential application. You'll see up to four loans at once so you can compare rates in minutes. Then, you can select the loan that looks best to you and head to your local Edgefield dealership with a check in hand.
Ready to purchase your next ride? Your poor credit doesn’t have to stop you. Apply with myAutoloan today and compare up to four bad credit auto loans in Edgefield, SC!