Do I Have Bad Credit in Plymouth, MI?
When you try to borrow money — like a car loan — lenders in Michigan use your credit score to decide the chances of you repaying it. Many factors influence 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 Plymouth, MI lender will have its own guidelines for what's considered a low credit score, you are often seen as having bad credit if your score is lower than 600. Lenders will also be nervous if you’ve experienced bankruptcy, repossession, or foreclosure.
Can I Get a Car Loan in Plymouth, MI If I Have Bad Credit?
Many borrowers have asked, “Can I get a car loan with a credit score of 600 or less?” The short answer is yes. However, financing a car in Plymouth, MI with bad credit won't necessarily be easy. To begin with, 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. Luckily, myAutoloan partners with lenders specializing in bad credit car loans.
Once you find a lender in Michigan, you may see that your low credit score impacts your loan. A poor credit score can limit your borrowing and result in higher interest rates. This high interest rate will lead to higher monthly payments and overall repayment. Our Interest Rate Estimator and Payment Calculator can help you see an estimate for the monthly payment on your Plymouth loan before completing an application.
Concerned about your possible interest rate and monthly payment? You may want to consider improving your credit score before you apply for Plymouth, Michigan car 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 Plymouth, MI Poor Credit Car Loans
A low credit score can increase the rate on your car loan, making it more important than ever to compare costs and find the right loan in Plymouth, 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 a confidential, secure application. We’ll show you up to four loans at a time so you can compare rates in minutes. After, you can select the right loan for you and head to your favorite Plymouth dealership with cash in hand.
Ready to purchase your next ride? Bad credit doesn't have to stop you. Apply now and compare up to four bad credit auto loans in Plymouth, MI through myAutoloan!