What Counts as Bad Credit in Harrison Twp, MI?
When you borrow money — like a car loan — Michigan lenders look at your credit score to decide the chances of you repaying 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 Harrison Twp, MI has its own criteria for what it deems a poor credit score, you are often seen as having bad credit if your score is less than 600. Lenders will also be nervous if you have a history of bankruptcy, foreclosure, or repossession.
Is it Possible to Get a Car Loan in Harrison Twp, MI with Bad Credit?
Many borrowers have asked, “Can I get a car loan with a credit score of 600 or less?” Yes, you can. However, you'll likely face some challenges financing a car with bad credit in Harrison Twp, MI. For starters, not every lender offers poor or no credit loans, so you may need to put in extra effort to find a lender willing to work with you. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
Once you find a lender in Michigan, you may notice your loan is impacted by your low credit score. A poor credit score can result in limited borrowing and higher interest rates. This high interest rate will lead to higher monthly payments and overall repayment. Tools like our Interest Rate Estimator and Payment Calculator can help you see an estimate for the monthly payment on your Harrison Twp loan before completing an application.
Do your potential interest rate and monthly payment have you sweating? You should look into raising your credit score before you apply for Harrison Twp, Michigan car loans. View our Guide to Better Credit for Auto Financing for information about credit scores and tips for quickly raising yours.
Find the Best Deal on Bad Credit Car Loans in Harrison Twp, MI
A poor credit score can increase your car loan rate, making it more crucial than ever to compare lending options and find the right deal in Harrison Twp, MI. At myAutoloan, we want to help you find the best loan — regardless of 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. After, you can select the right loan for you and visit any dealership in Harrison Twp with a check in hand.
Ready to purchase your next ride? Poor credit shouldn't stop you. Apply now and compare up to four bad credit auto loans in Harrison Twp, MI through myAutoloan!