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Auto Loans in Bay City (MI)

Getting a car financed with a bad credit score used to be just about impossible – until we became a market-leader. A favorable credit record may grant you more options, but we can help you find the bad credit car loan in Bay City that fits your income and credit.

Keys to Our System

  • Superior Data-Matching Platform
  • Extensive Lender Network
  • Comprehensive Applicant Education

Auto Financing Bay City Michigan

Bay City Car Dealerships That Approve Bad Credit

Nowadays, there are dealerships with finance departments devoted to special financing. Compared with a BHPH car lot, such dealerships offer:

  • Lower APR rates and down payments.
  • Chance to re-establish your credit.

The exact models you’re eligible for will be determined by your income and credit history. If you want to steer clear of missed payments or repossession, buy a vehicle that won’t wipe out your bank account, with a payment that equates to 10% of your income or less. If you get paid $1,502 a month, this comes to a payment of $150.

Submit an application to have a finance professional confirm how much you can borrow.

Your Choice of Vehicle: New or Used

Both new and pre-owned vehicles can be financed through Motive Auto Finance. You can finance a new car for longer, and at a more affordable interest rate, but you spend a lot more in the long run.

New Car Pre-owned Car
Years Old 0 1
Price $15,020 $11,265
Down Payment $3,004 $1,127
Loan Rate 5.00% 7.50%
Years 5 4
Payment Per Month $226.76 $245.14
Finance Fees $1,589 $1,628
Total Paid $16,609 $12,893

Buy Here Pay Here (BHPH) Car Dealers in Bay City, MI

Commonly called in house financing, your job is your credit, or tote the note car dealers, these businesses typically have a few key features:

  • These dealerships approve car loans on site.
  • They rarely pull your credit.
  • They demand weekly or biweekly payments, often at the lot.

For people who’ve got really bad credit, Bay City in house financing dealers in many cases are the only way to go. Unfortunately, the interest rates are a lot higher than you’d get from a dealership that does indirect lending. They also hardly ever report payments to the credit agencies. This means the consumer’s FICO score isn’t likely to improve even if they pay off the loan as agreed.

Can a Car Loan Enhance Your FICO Score?

If your credit has been through the ringer, you may be concerned that an auto loan will only decrease your score yet further. The truth is, financing a car is one of the best ways to restore your credit. A car loan:

  • Gives you the chance to improve your payment history (35% of your score).
  • Improves your credit mix, or the array of credit types under your belt (10% of your score).

Your score won’t go up the instant you pay off your loan. Rather, it will rise gradually as you keep on making payments on time. Don’t ignore the benefits of a better FICO score. The incentives are far reaching, and you simply need to pay your bills each month.

Used Cars from Bay City Dealers


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