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Auto Loans in Bloomfield Hills (MI)

Below-average credit can make it harder to get approved for financing, but our clients have high acceptance rates. It’s crucial that you work with a bank or dealer that won’t just fund your loan, but offer you an affordable rate. We’ve spent years forming a wide-ranging network of lenders and dealers who offer financing to a wide range of consumers, not just those with credit scores in excess of 700. Simply apply online, and you could be behind the wheel of your new car before you know it.

Auto Loans Bloomfield Hills MI

Bloomfield Hills Car Lots for Bad Credit

It is important to stay away from buy here pay here car lots, choosing instead to buy from more reputable dealerships that serve people who have lower credit scores and offer a far better financing experience. In any sub-prime lending arrangement, expect increased rates of interest, bigger down payments, and smaller loans. With that being said, the experience is better than that of a buy here pay here dealer, and your vehicle will cost you less in the long run. There are many of these dealerships in our network, and they want to get you approved for the car you deserve. Go here to submit your application.

No Down Payment Cars in Bloomfield Hills

Do you have a down payment saved for your new car? If not, it might be more challenging to get financed, though it’s not impossible. A down payment will lower your loan-to-value ratio, which is the size of the loan versus the cost of the vehicle–thereby leading to:

  • Lower annual percentage rate.
  • Less total interest owed.
  • Less of a problem with negative equity.

It may be possible to buy a car in Bloomfield Hills without a down payment, especially if you plan to trade in your existing car or truck. Submit your application online to talk with a dedicated finance agent and see whether there are cars available with no money down in Bloomfield Hills.

Your Job is Your Credit Dealerships in Bloomfield Hills, MI

Bloomfield Hills In House Financing

Car dealers in Bloomfield Hills that advertise buy here pay here financing have certain things in common. They…

  1. Offer car loans on location.
  2. Rarely check your credit.
  3. Want you to make payments every seven days, often in person.

Often men and women with really terrible credit believe that an in house financing car lot is the only establishment that will approve their credit, despite the fact that the cost of your vehicle will be higher on account of higher loan rates, and chances are your credit score will not go up as you pay off the loan. That is because these car lots rarely report to Equifax, Experian, and Transunion.

Selecting a Vehicle

It is far too easy to purchase a car that stretches your budget. Have a look at the scenarios that follow, revealing how much car the average Bloomfield Hills consumer can afford based on an income of $6,777 per month, a payment of $542, and a term of 60 months.

Exceptional Credit Fair Credit Bad Credit
Monthly Income $6,777 $6,777 $6,777
Monthly Payment $542 $542 $542
Rate 3.50% 7.00% 11.00%
Term 60 Months 60 Months 60 Months
Money Down $7,451 $6,845 $6,234
Note Size $29,803 $27,380 $24,936
Total Interest $2,727 $5,149 $7,594
Total with Interest $39,980 $39,375 $38,763
Sticker Price $37,253 $34,225 $31,169


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