Do I Have Bad Credit in Clarkston, MI?
When you apply for any type of loan, Michigan lenders look at your credit score to decide the chances of you repaying 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 every lender in Clarkston, MI has its own guidelines for what it considers a poor credit score, you may be seen as having bad credit if your score is less than 600. Lenders will also be nervous if you’ve experienced bankruptcy, repossession, or foreclosure.
Can I Still Get a Car Loan in Clarkston, MI 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 simple answer is yes. But, financing a car in Clarkston, MI with bad credit won't necessarily be easy. For starters, not every lender is willing to give a loan to someone with poor or no credit, 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 find a lender in Michigan, you may learn your low credit score affects your loan. A poor credit score can limit your borrowing and result in higher interest rates. Higher interest rates will mean larger monthly payments and total repayment. Our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Clarkston loan could look like before filling out an application.
Worried about your potential interest rate and monthly payment? You may want to think about improving your credit score before applying for Clarkston, Michigan auto loans. Take a look at our Guide to Better Credit for Auto Financing for information about credit scores and tips for quickly raising yours.
Find the Best Deal on Clarkston, MI Poor Credit Car Loans
A low credit score can increase the rate on your car loan, making it more critical than ever to compare costs and find the right loan in Clarkston, MI. myAutoloan is here to help you find the best loan — even without the best 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 right loan for you and head to your local Clarkston dealership with cash in hand.
Need a new ride? Poor credit shouldn't stop you. Apply through myAutoloan now and review up to four Clarkston, MI bad credit car loans!