Do I Have Bad Credit in Myrtle Beach, SC?
When you try to borrow money — like a car loan — South Carolina lenders use your credit score to figure out how likely you are to repay 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 Myrtle Beach, SC will have its own guidelines for what’s considered a poor credit score, you might be seen as having bad credit if your score falls below 600. Lenders will also be wary if you’ve experienced bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Myrtle Beach, SC with Low Credit?
Many car buyers have asked, “Can I get a car loan with a credit score of 600 or less?” The short answer is yes. Keep in mind, financing a car in Myrtle Beach, SC with bad credit won't necessarily be easy. 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 who will help with your financing. The good news is that myAutoloan partners with lenders specializing 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 also mean higher monthly payments and total repayment. Tools like our Interest Rate Estimator and Payment Calculator can help you see an estimate for the monthly payment on your Myrtle Beach loan before completing an application.
Concerned about your possible interest rate and monthly payment? You might want to consider raising your credit score before applying for Myrtle Beach, South Carolina auto loans. View our Guide to Better Credit for Auto Financing to learn about credit scores and how you can quickly raise yours.
Find the Best Deal on Bad Credit Car Loans in Myrtle Beach, SC
A poor credit score can raise the rate on your car loan, making it more important than ever to compare lending options and find the right deal in Myrtle Beach, SC. myAutoloan wants to help you find the best loan — despite your credit history. Simply choose your offer type and fill out our secure, confidential application. We'll show you up to four loans at once, allowing you to compare rates in minutes. To finish, you can select the best loan for you and head down to your go-to dealership in Myrtle Beach with a loan in hand.
Ready to purchase your next ride? Your poor credit doesn’t have to stop you. Apply today through myAutoloan and compare up to four Myrtle Beach, SC bad credit auto loans!