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Auto Loans in Alabama (AL)

Your credit score is is of utmost significance when buying a car, and a lot fewer consumers have been securing loans since the economic crisis. We allow you to find a lender that really wants to stand behind you. We’ve established an unparalleled network of dealers and finance companies that are focused on getting you into the car you need Just apply online. You will be connected with a lending specialist from a dealer or lender in your area.

Bad Credit Car Dealerships in AL

Have you given thought to where you could buy your new car or truck? With poor credit, you’ll probably have to buy from a dealership, rather than a private individual, since lenders rarely provide these types of loans for people who’ve sub-prime credit. Thank goodness there are dealerships that specialize in bad credit. Whenever you have less-than-perfect credit, expect more expensive interest rates, more substantial down payments, and tighter lending requirements. On the plus side, keep in mind you’ll be getting a car, of course, but also the chance to raise your credit score. We work with many of these dealerships, and they want to get you the car you deserve. Just go here to submit your application.

New Versus Used Cars

Have you thought about whether you’re going to buy a new or used car? It’s an important decision. It’s possible to finance a new car for longer, and at a more affordable rate, but you spend a lot more in terms of purchase price and down payment.

New Car Used Car 1 Used Car 2 Used Car 3
Years Old 0 1 2 3
Price tag $31,243 $23,433 $18,746 $15,622
Down Payment $6,249 $2,343 $1,875 $1,562
APR 5.00% 7.50% 7.50% 7.50%
Years 5 4 4 4
Monthly Payment $472 $510 $408 $340
Interest $3,306 $3,387 $2,709 $2,258
Total Outlay $34,549 $26,819 $21,455 $17,879

Your Job is Your Credit Car Lots in AL

Alabama In House Financing

Dealerships in Alabama that approve auto loans in house have certain commonalities. They…

  1. Approve auto loans without third party funding.
  2. Do not check your credit.
  3. Want you to make payments every seven days, often in person.

Sometimes men and women with really bad credit feel like an in house financing car lot is the only establishment that will be willing to finance them. However, the loan rates are much higher than you’d get from a regular lender. Aside from that, they hardly ever report payments to the credit bureaus, meaning the borrower’s FICO score won’t get better even if they pay off the loan on time.

What Car Should You Buy?

Wouldn’t you like to know how much you should invest in a car? This chart displays how much the Alabama consumer ought to spend based on an income of $3,124 per month, a payment of $250, and a repayment term of 60 months.

Exceptional Credit Fair Credit Subprime Credit
Income $3,124 $3,124 $3,124
Payment $250 $250 $250
Rate 3.50% 7.00% 11.00%
Months 60 60 60
Down Payment $3,435 $3,156 $2,874
Borrowed Funds $13,740 $12,623 $11,496
Interest Paid $1,257 $2,374 $3,501
Total with Interest $18,432 $18,153 $17,871
Vehicle Price $17,174 $15,779 $14,370

State Authorities

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