How Do I Know If I Have Bad Credit in Sturgis, MI?
When you apply for a car loan, mortgage, or another type of loan, Michigan lenders use your credit score to determine the likelihood of you repaying it. Many factors play into your credit score, including the age of your credit accounts, the number of open accounts you have, any remaining loan balances, and your repayment history. While each Sturgis, MI lender has its own benchmarks 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’ve experienced bankruptcy, repossession, or foreclosure.
Can I Get a Car Loan in Sturgis, 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 simple answer is yes. Still, financing a car in Sturgis, MI with bad credit won't necessarily be easy. To begin with, not all lenders are willing to give a loan to someone with no or poor credit, so you may need to spend some extra time finding 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 see that 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 overall loan costs. Use our Interest Rate Estimator and Payment Calculator to see what the monthly payment on your Sturgis loan might be before completing an application.
Concerned about your possible interest rate and monthly payment? You might want to think about increasing your credit score before applying for auto loans in Sturgis, Michigan. View our Guide to Better Credit for Auto Financing to learn about credit scores and how you can quickly raise yours.
Find the Best Deal on Poor Credit Car Loans in Sturgis, MI
A bad credit score can raise your car loan rate, so it's more critical than ever to compare costs to find the right deal in Sturgis, MI. myAutoloan wants to help you find the best loan — no matter 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 choose the best loan for you and head to your favorite Sturgis dealership with money in hand.
Ready to purchase a new ride? Bad credit doesn't have to stop you. Apply today through myAutoloan and compare up to four Sturgis, MI bad credit auto loans!