Bad Credit Auto Loans in Clinton Township (MI)

We understand that auto financing can be stressful. That’s why we launched our online approval system. Our system is fast, secure, and effective. Borrowers with sufficient income have a 90% chance of being approved. When you apply online, our network of dealers and finance companies compete against each other to fund your loan.

FICO Scores of 620 or Less

Credit ratings of 620 or less are generally considered subprime or “bad” credit, but our service is ideally-suited to applicants with credit problems. There is no minimum FICO score involved, and we can help applicants who fall fall into any of the lower credit tiers. A down payment and proof of income will typically be considered necessary; however, most applicants are approved right away. If you have poor credit, you’ll typically have your application placed with a bad credit dealership or auto lender. Fortunately, they submit information to the credit bureaus, which is a prerequisite for restoring your credit. Apply Now!

The chart below shows you how much you can borrow, given a monthly income of $4,089, the average in Clinton Township. These sums are simply estimates. You may be eligible for a different amount. Speak with your vehicle finance specialist for more information.

Credit Income Factor Sum
Good Credit 10 $40,890
Average Credit 9 $36,801
Subprime Credit 8 $32,712
Poor Credit 7 $28,623
Really Bad Credit 6 $28,623

Keep in mind, the amounts listed above are estimations. For a precise quote, please submit your application.

Zero Down Payment Deals?

Good credit? Then you probably won’t have to concern yourself with a down payment. Unfortunately, it’s somewhat harder for people with low credit scores. This is because consumers with less-than-perfect credit pose a much greater risk to the lending company. Going into default is more likely, and a down payment makes certain that at least a percentage of the vehicle has been paid off. The good news is that, as the economy gets better, more and more lenders and dealers will be offering car loans in Clinton Township with no down payment.

Apply online. We will place your application with a lender who can offer you a loan, zero down payment needed.

What About Buy Here Pay Here Financing in Clinton Township?

This sort of financing is sometimes known as:

  • Your Job is Your Credit
  • Tote The Note
  • Rent to Own
  • We Finance

Consumers who cannot get approved for a loan because of seriously bad credit often resort to dealerships like these. They finance people with problems like bankruptcy, foreclosure, or repossession on their records.

Clinton Township Consumer Profile

Banks, dealers, and car loan companies are interested in much more than just your FICO score. Loan companies review your ability to pay (income), stability, and individual credit history.

Listed below are some average stats for Clinton Township residents.

  • Gross Income: $49,070 Per Annum
  • Average Monthly Payment: $450 (11% of Income)
  • Recommended Car Payment: $327 to $409 (8%-10% of Income)

If you have a bad credit score, you aren’t the only one. This chart depicts how many people in Clinton Township are in each credit level.

FICO Score % of Population Residents
300-499 2% 1,929
500-549 5% 4,823
550-599 8% 7,717
600-649 12% 11,576
650-699 15% 14,470
700-749 18% 17,364
750-799 27% 26,045
800-850 13% 12,540

As you can see, more than 25% of Clinton Township residents will need a bad credit auto loan. If your credit puts you in one of the lower ranges, fear not. We have lenders who finance people in each of these credit tiers.