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Auto Loans in Flagstaff (AZ)

If your credit isn’t very good, getting approved for financing is often the most significant hurdle to purchasing a car, especially since the economic crisis struck. We enable you to find a bank or dealer that has your best interests at heart. Through the years, we’ve developed an extensive network of dealers and lenders who are dedicated to funding your car, no matter credit record.

Simply submit your credit application, and you will be a few short steps away from the new car you want.

Bad Credit Car Dealers in Flagstaff, AZ

Low credit scores have been on the rise since the market downturn, and a greater number of dealerships now have finance departments devoted to subprime auto lending. Since this is a high-risk loan, there are certain things to be expected:

  • Rates of interest that are higher.
  • Down payments that are more substantial.
  • Repayment periods that are shorter.

On the other hand, they will arrange your financing through banks and finance companies that report back to the credit bureaus, which is critical if you want to rebuild your credit. We work with many such dealerships, and they want to get you the car you need. Just go here to apply online.

Affordable Rates of Interest for Flagstaff Residents

A lot of shoppers concentrate on the purchase price of their new car or truck, but interest rate is equally as relevant.

Take a look at this chart that shows the impact of various rates.

Good Credit Mid-Range Credit Poor Credit
Size of Loan $18,450 $18,450 $18,450
Rate 3.50% APR 7.00% APR 11.00% APR
Payment $336 $365 $401
Total Interest $1,688 $3,470 $5,619

In order to get the cheapest rate possible, be sure you check your credit report for any errors. If you find one, file a dispute with the credit bureau where the mistake is being reported. This is a quick and easy way to boost your credit score. Have you got a good deal of credit card debt? Paying some of it off could lower your debt-to-income ratio and therefore your interest rate. Don’t tie yourself to a long-term loan. Finance for 5 years or less, and you’ll enjoy the benefits of a decreased interest rate. Lastly, a larger down payment will decrease your loan-to-value ratio, also known as your LTV–a further way of reducing your rate.

Buy Here Pay Here Dealers in Flagstaff, AZ

Flagstaff Buy Here Pay Here

Dealerships in Flagstaff that advertise buy here pay here financing are distinct from regular dealerships in certain key ways:

  • These dealers approve car loans on-site.
  • They rarely perform credit checks.
  • They demand weekly or biweekly payments, often at the lot.

Sometimes people with really terrible credit assume that an in house financing car lot is the only place that will finance them, despite the fact that the interest rates are a lot higher than a loan from the bank. On top of that, they don’t often report payments to the credit bureaus, meaning the borrower’s credit rating will not increase as a result of the loan.

Cars in Flagstaff That Fit Your Budget

Be sure not to buy a car or truck costs too much. This table reveals how much the Flagstaff consumer ought to spend based on an income of $2,050 a month, a car payment that amounts to 8% of this income, and a repayment term of 60 months–the maximum length you should consider.

Prime Credit Okay Credit Subprime Credit
Monthly Installment $164 $164 $164
Rate 3.50% 7.00% 11.00%
Money Down $2,254 $2,071 $1,886
Total Interest $825 $1,558 $2,297
Price with Interest $12,094 $11,911 $11,726
Purchase Price $11,269 $10,353 $9,429

Cars in Flagstaff for Sale


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