What Counts as Bad Credit in North Myrtle Beach, SC?
When you apply for a car loan, mortgage, or another type of loan, lenders in South Carolina 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 each lender in North Myrtle Beach, SC has its own benchmarks for what's considered a low credit score, you may be seen as having bad credit if your score sits under the 600 benchmark. Lenders will also be worried if you’ve experienced bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in North Myrtle Beach, SC with Low 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 short answer? Yes. Keep in mind, financing a car in North Myrtle Beach, SC with bad credit won't necessarily be easy. To begin with, not all lenders are willing to give a loan to someone with no or poor credit, so you may need to spend some extra time finding 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 notice your loan is impacted by your low credit score. You may have limited borrowing power and a higher interest rate due to your poor credit score. This high interest rate will also mean larger monthly payments and more spent over the life of the loan. With our Interest Rate Estimator and Payment Calculator, you can see what the monthly payment on your North Myrtle Beach loan might be before you apply.
Worried about your potential interest rate and monthly payment? You might want to consider improving your credit score before you start applying for auto loans in North Myrtle Beach, South Carolina. 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 North Myrtle Beach, SC Poor Credit Car Loans
A bad credit score can increase your car loan rate, making it more important than ever to compare lending options and find the right deal in North Myrtle Beach, SC. myAutoloan wants to make sure you find the best loan — even without the best credit history. All you need to do is select your offer type and complete a confidential, secure application. We'll show you up to four loans in minutes so you can easily compare rates. After, you can select the right loan for you and head to your favorite North Myrtle Beach dealership with cash in hand.
Why wait to get a new ride? Poor credit shouldn't stop you. Apply today through myAutoloan and compare up to four North Myrtle Beach, SC bad credit auto loans!