What Is Considered Bad Credit in North Charleston, SC?
When you try to borrow money — like a car loan — South Carolina lenders use your credit score to evaluate the probability that you'll repay 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 each North Charleston, SC lender has its own guidelines for what it deems a poor credit score, you could be seen as having bad credit if your score sits under the 600 benchmark. Lenders will also be worried if you've experienced repossession, bankruptcy, or foreclosure.
Can I Get a Car Loan in North Charleston, 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 with bad credit in North Charleston, SC will come with some challenges. First off, not every lender offers poor or no credit loans, so it may take some extra time to find a lender who will work with you. The good news is that myAutoloan partners with lenders specializing in bad credit loans.
When you find a lender in South Carolina, you may notice your low credit score impacts your loan. A poor credit score can result in limited borrowing and 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 North Charleston loan might look like before even applying.
Worried about your potential interest rate and monthly payment? You might want to consider raising your credit score before you start applying for auto loans in North Charleston, South Carolina. 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 Bad Credit Car Loans in North Charleston, SC
A poor credit score can raise your car loan rate, so it's more critical than ever to compare costs to find the right deal in North Charleston, SC. At myAutoloan, we want to help you find the best loan — even without the best credit history. Simply choose your offer type and complete a confidential, secure application. We'll show you up to four loans at once, allowing you to compare rates in minutes. To finish, you can choose the best loan for you and visit any dealership in North Charleston with a check in hand.
Why wait to get a new ride? Poor credit shouldn't stop you. Apply through myAutoloan now and review up to four North Charleston, SC bad credit car loans!