What Is Considered Bad Credit in Laurens, 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 play 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 each Laurens, SC lender has its own guidelines for what it considers a poor credit score, you could be seen as having bad credit if you have a score below 600. Lenders will also be wary if you've experienced repossession, bankruptcy, or foreclosure.
Can I Get a Car Loan in Laurens, SC If I Have Bad Credit?
You're not the first car buyer to wonder, “Can I get a car loan with a credit score of 600 or less?” The simple answer is yes. But, financing a car in Laurens, SC with bad credit won't necessarily be easy. First off, not all lenders are willing to give a loan to someone with no or poor credit, so you may need to put in some extra hours to find a lender inclined to work with you. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
Once you've chosen a lender in South Carolina, you may learn 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 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 Laurens loan might look like before completing an application.
Do your potential interest rate and monthly payment have you sweating? You might want to think about improving your credit score before applying for Laurens, South Carolina auto loans. Study our Guide to Better Credit for Auto Financing for help understanding and quickly raising 7our credit.
Find the Best Deal on Laurens, SC Poor Credit Car Loans
A low credit score can increase your car loan rate, making it more important than ever to compare lending options and find the right deal in Laurens, SC. myAutoloan is here to help you find the best loan — even without the best 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 loan that looks best to you and head to your favorite Laurens dealership with a check in hand.
Need a new ride? Poor credit shouldn't stop you. Apply with myAutoloan today and compare up to four bad credit auto loans in Laurens, SC!