What Counts as Bad Credit in Marlette, MI?
When you try to borrow money — like a car loan — Michigan lenders look at your credit score to evaluate how likely you are to repay it. Your credit score is calculated using many factors, including the number of open accounts you have, your repayment history, the age of your credit accounts, and any remaining loan balances. While every Marlette, MI lender has its own guidelines for what's considered a low credit score, you might be seen as having bad credit if your score is less than 600. Lenders will also be wary if you have a history of bankruptcy, foreclosure, or repossession.
Can I Still Get a Car Loan in Marlette, MI with Low Credit?
You’re not the first car buyer asking, “Can I get a car loan with a credit score of 600 or less?” The short answer is yes. Keep in mind, financing a car with bad credit in Marlette, MI will come with some challenges. First off, 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 who will help with your financing. Thankfully, myAutoloan has lending partners that specialize in bad credit loans.
Once you find a lender in Michigan, you may see that 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 higher monthly payments and total repayment. Tools like our Interest Rate Estimator and Payment Calculator can help you see what the monthly payment on your Marlette loan could look like before completing an application.
Do your potential interest rate and monthly payment have you sweating? You might want to contemplate improving your credit score before applying for auto loans in Marlette, Michigan. Check out 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 Marlette, MI
A bad credit score can increase your car loan rate, making it more crucial than ever to compare lenders in Marlette, MI and find the right deal. At myAutoloan, we want to help you find the best loan — no matter your credit history. All you have to do is choose your offer type and complete or confidential and secure application. You'll see up to four loans at once so you can compare rates in minutes. Finally, you can select the loan that looks best to you and visit any dealership in Marlette with a loan in hand.
Need a new ride? Poor credit shouldn't stop you. Apply now and compare up to four bad credit auto loans in Marlette, MI through myAutoloan!