Bad Credit Auto Loans in Highland Park (MI)

Trying to find the best financing in Highland Park? Excellent, we can help. Our service is fast, safe, and effective. Clients who meet the minimum criteria have a 90% chance of being approved. When you submit your application, the dealers and lenders in our network compete against one another to fund your loan.

Do you have a FICO score of 620 or lower? Less-than-perfect credit is rarely a deal-breaker. If you just were to go from dealer to dealer, submitting applications, you might experience some denials along the way. But with our service, you can apply just once, and we’ll find a lender willing to approve you for financing, even if your credit isn’t perfect. Many loan providers require people with bad credit to provide a down payment, but most people who apply through us are approved the same day they apply. Let us find you a lender or dealer that finances bad credit. It’s simple. Go here to submit your application online.

The table below shows you various loan amounts, derived from a monthly income of $1,805, the average in Highland Park. These amounts are only estimations. You may be eligible for a different amount. Speak with your vehicle finance specialist for more information.

Credit Income Factor Amount
Great Credit 10 $18,050
Decent Credit 9 $16,245
Slow Credit 8 $14,440
Bad Credit 7 $12,635
Really Bad Credit 6 $12,635

Just because you can borrow such an amount, doesn’t mean it’s a good idea. A smaller loan is highly recommended, because you will pay less interest, and your payment will be smaller.

No Money Down Car Loans in Highland Park?

Don’t have a down payment? No problem. That said, providing a down payment gives you important benefits:

  • Reduces the length of the loan, meaning you pay less in interest.
  • Reduces monthly installment.
  • Safeguards against negative equity.

Nevertheless, you no longer need a down payment to submit an application. We help our clients get approved everyday, despite issues with their credit and down payment. Apply now!

Buy Here Pay Here Dealers in Highland Park

Perhaps you’ve wondered about car lots in Highland Park that advertise buy here pay here services? Consumers who have been unable to secure financing because of seriously bad credit often turn to these types of dealerships. Sure, the interest rates are high, but there aren’t many hurdles to getting approved.

Highland Park Consumer Profile

Dealers and finance companies are concerned with much more than just your FICO score. Loan companies look at your income, employment history, and history of credit.

Below are some average statistics for Highland Park residents.

  • Gross Salary: $1,805 Monthly
  • Average Car Payment: $199 (11% of Income)
  • Ideal Car Payment: $144 to $181 (8%-10% of Income)

Next we have divided up Highland Park’s population by credit rating. These estimates should give you a sense of where you stand.

FICO Score % of Population Residents
300-499 2% 905
500-549 5% 2,263
550-599 8% 3,621
600-649 12% 5,431
650-699 15% 6,789
700-749 18% 8,147
750-799 27% 12,220
800-850 13% 5,884