What Is Considered Bad Credit in South Charleston, WV?
When you apply for a car loan, mortgage, or another type of loan, West Virginia lenders use your credit score to determine how likely you are to repay it. Your credit score is calculated using many factors, 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 South Charleston, WV has its own guidelines for what’s considered a poor credit score, you are often seen as having bad credit if your score falls below 600. Lenders will also be worried if you've gone through bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in South Charleston, WV with Bad Credit?
Many borrowers have asked, “Can I get a car loan with a credit score of 600 or less?” Yes, you can. Still, financing a car with bad credit in South Charleston, WV will come with some challenges. Most notably, not every lender offers poor or no credit loans, so you may need to spend some extra time finding a lender who will work with you. Thankfully, myAutoloan partners with lenders that specialize in bad credit loans.
Once you've found a lender in West Virginia, you may see that your low credit score changes 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 total repayment. Use our Interest Rate Estimator and Payment Calculator to see what the monthly payment on your South Charleston loan might be before even applying.
Worried about your potential interest rate and monthly payment? You may want to consider raising your credit score before you start applying for auto loans in South Charleston, West 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 on Poor Credit Car Loans in South Charleston, WV
A bad credit score can raise the rate on your car loan, making it more important than ever to compare lenders in South Charleston, WV and find the right deal. myAutoloan wants to make sure you find the best loan — no matter your credit history. Simply 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. Then, you can select the loan that looks best to you and head down to your go-to dealership in South Charleston with a loan in hand.
Why wait to get a new ride? Bad credit doesn't have to get in the way. Apply now and compare up to four bad credit auto loans in South Charleston, WV through myAutoloan!