Best Loans in Michigan, Payday, Auto Title Laws of April 2024

Last Update: November 2, 2022 Loans By State
Best Loans in All States

Michigan’s Credit Reform Act requires licensed lenders to cap installment loan APRs at 25%. However, loan amounts are not capped and are determined by the lender and the borrower.

Other allowable charges include:

  • A credit processing fee of up to 2% of the loan.
  • After the agreed-upon grace period, a late payment fee becomes 5% of the outstanding balance or $15, whichever is greater.
  • A non-sufficient funds (NSF) or dishonored check fee of up to $25.

Best Bad Credit Loans in Michigan of April 2024


$100 - $15,000

Min. Credit Score:



5.99% - 35.99%


5 Minutes