How Do I Know If I Have Bad Credit in Rocky Mount, VA?
When you try to borrow money — like a car loan — Virginia lenders use your credit score to figure out the chances of you repaying 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 every lender in Rocky Mount, VA has its own criteria for what it deems a poor credit score, you may be seen as having bad credit if your score is less than 600. Lenders will also be worried if you’ve experienced bankruptcy, repossession, or foreclosure.
Can I Get a Car Loan in Rocky Mount, VA If I Have Bad Credit?
Many borrowers have asked, “Can I get a car loan with a credit score of 600 or less?” Yes, you can. But, you'll likely face some challenges financing a car with bad credit in Rocky Mount, VA. First off, 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 inclined to work with you. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
Once you find a lender in Virginia, you may notice your low credit score affects your loan. A poor credit score can result in limited borrowing and higher interest rates. This high interest rate will also mean higher monthly payments and overall loan costs. Tools like our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Rocky Mount loan could look like before filling out an application.
Do your potential interest rate and monthly payment have you sweating? You might want to contemplate boosting your credit score before applying for auto loans in Rocky Mount, Virginia. Take a look at our Guide to Better Credit for Auto Financing to better understand your credit score and how you can raise it.
Find the Best Deal in Rocky Mount, VA for Bad Credit Car Loans
A bad credit score can raise the rate on your car loan, so it's more critical than ever to compare lending options and find the right deal in Rocky Mount, VA. At myAutoloan, we want to help you find the best loan — despite your credit history. All you have to do is choose your offer type and fill out our secure, confidential application. We'll show you up to four loans in minutes so you can easily compare rates. Finally, you can select the loan that looks best to you and visit any dealership in Rocky Mount with money in hand.
Why wait to get a new ride? Poor credit shouldn't stop you. Apply with myAutoloan today and compare up to four bad credit auto loans in Rocky Mount, VA!