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Auto Loans in Gilbert (AZ)

In Gilbert, you have several options for securing a car loan, but the advantages of our service are unequalled. Rather than waiting until you’re in negotiations at the dealership, we enable you to arrange financing in advance. Most of the time, we’re able to match our customers with the right dealer or lender within 60 seconds.

Bad Credit Car Dealerships in Gilbert, Arizona

If you’ve got non-ideal credit, dealer financing is often your best and only option, as most banks in your area will be hesitant to work with you. There are dealers, however, that can get you the loan you need at an affordable rate. In any non-prime lending scenario, expect higher interest rates and larger down payments, as well as shorter repayment periods. On the plus side, the rates and terms are more favorable than you would be given at a buy here pay here lot. We work with many such dealerships, and when you apply online, we work hard to match you with one who wants to get you the loan you need.

Identity Verification for Gilbert Residents

To defend against fraud, banks and lenders need to confirm things like your identiity, as well as where you work and live.

  • Driving License: This helps dealers and lenders check your identity.
  • Proof of Income: Your two most recent paycheck stubs are typically all it takes to confirm your income.
  • Proof of Insurance: Not just liability, but collision insurance is mandatory on any vehicle bought with a loan.
  • Proof of Residence: You can supply this through a copy of your lease or a bill, showing that the address on your application is correct.
  • References: In all likelihood, you won’t have to provide references unless you have poor credit. If you do, personal references are used by auto recovery agencies in the event that you default.

These are common requirements. However, these vary from lender to lender. Contact a lending expert, and they’ll help you determine what documentation you’ll need.

Buy Here Pay Here Auto Loans in Gilbert, Arizona

Most people turn to buy here pay here car lots, assuming they will only be able to finance a car without a credit check. Not the case. A lot of dealer finance is sourced elsewhere, as dealerships work with off-site banks and lenders to supply the loans. In contrast, BHPH dealers decide who gets approved on the lot, generally with no credit check. Problems include:

  • Excessive Interest
  • Extortionate Down Payments
  • Steeply-Priced Cars and Trucks
  • Aggressive Repossession Tactics

As if that weren’t enough of an issue, these dealers seldom work with the credit reporting agencies, which means you could make every single payment as agreed without a lift in your FICO score.

Rules of Thumb for Buying a Car in Gilbert

It’s best to invest no greater than 10% of your monthly income for your loan payment. At the same time, select a 60-month loan at the very most. If you adhere to these guidelines, you will find yourself financing a vehicle that costs roughly 50% of your yearly income. For instance, if you make $29,196 a year, the average for residents of Gilbert, this would be a car costing $14,598. Cars and trucks are never good investments, given how fast they depreciate, meaning it’s best to spend as little as you can and still bring home a car that won’t leave you on the side of the road.

Used Cars in Gilbert


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