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Bad Credit Car Loans: Michigan (MI)

Seal of Michigan.
MI Auto Loans, Bad Credit OK!

The economic downturn severely impacted the credit ratings of the typical American shopper.

Needless to say, poor credit will be challenging if you’re thinking of financing a car. However, with a sufficient amount of income and money down, it’s possible to track down a car finance company or car dealership in MI that takes subprime credit.

We will help you locate a loan provider who grants bad credit auto loans in Michigan.

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Michigan Bad Credit Car Loan Recommendations

It’s best to select an economical car that you can pay back within 48 months. You should never be tempted by long-lasting auto loans that will let you obtain a fancier vehicle than necessary. Doing so could very well spoil your credit scores. Your Michigan bad credit car loan should raise your credit rating, not decrease it. Allocating at most 1/10 of your monthly earnings is important.

Computing what to dedicate to your vehicle is straightforward.

Monthly pay x .10 x 48 months

Here’s an example driven by average average Michigan data:

  • Salary Per Year: $43,357
  • Pay A Month: $3,613
  • Best Payment: $361
  • Car Price: $17,343

Don’t forget, these numbers don’t take note of finance costs.

Subprime Car Loan Companies: Michigan (MI)

What follows is a long list of Michigan subprime car loan companies and dealerships who will be able to furnish bad credit auto loans in Michigan.