What Counts as Bad Credit in Howell, MI?
When you apply for any type of loan, lenders in Michigan use your credit score to figure out how likely you are to repay it. Many factors go into your credit score, including the number of open accounts you have, your repayment history, the age of your credit accounts, and any remaining loan balances. While every lender in Howell, MI has its own benchmarks for what it deems a poor credit score, you may be seen as having bad credit if your score is lower than 600. Lenders will also be more cautious if you've gone through bankruptcy, repossession, or foreclosure.
Is it Possible to Get a Car Loan in Howell, MI with Bad Credit?
You're not the first car buyer to wonder, “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 Howell, MI. Most notably, not every lender feels comfortable giving loans to people with poor or no credit, so it may take some extra time to find a lender inclined to work with you. Luckily, myAutoloan partners with lenders specializing in bad credit car loans.
When you find a lender in Michigan, you may discover 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 Howell loan might be before completing an application.
Do your potential interest rate and monthly payment have you sweating? You might want to look into improving your credit score before you start applying for auto loans in Howell, Michigan. Take a look at our Guide to Better Credit for Auto Financing to learn about credit scores and how you can quickly raise yours.
Find the Best Deal in Howell, MI for Bad Credit Car Loans
A poor credit score can raise the rate on your car loan, so it's more critical than ever to compare costs and find the right loan in Howell, MI. myAutoloan wants to help you find the best loan — despite your credit history. All you have to do is select your offer type and complete or confidential and secure application. We’ll show you up to four loans at a time so you can compare rates in minutes. Finally, you can choose the best loan for you and head to your local Howell dealership with a check in hand.
Need 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 Howell, MI through myAutoloan!