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Auto Loans in Phoenix (AZ)

Car loans with bad credit in Phoenix – it’s our area of expertise. Good credit may grant you more options, but we help you, the borrower, find a bad credit auto finance package you need at a rate you can afford. All you have to do is complete your credit request, and we will match you to a loan provider or dealership specialist who’ll do their best to get you the best car loan.

Phoenix Car Dealerships for Bad Credit

Have you considered where to buy your new car? With weak credit, you typically need to buy from a dealership, rather than a private seller, simply because the majority of lenders don’t provide private party car loans for people with credit problems. Thank goodness there are dealerships that work with bad credit. In contrast to buy here pay here dealers, these dealers offer:

  • Interest rates that are reasonable.
  • Down payments that are reasonable given the vehicle’s value.
  • New vehicles, instead of only pre-owned ones.

You may not be able to finance the more expensive cars in the showroom. Below is an example based on a monthly income of $1,847, the average in Phoenix:

Credit Multiplier Sum
Great Credit 10 $18,470
Fair Credit 9 $16,623
Temporary Bad Credit 8 $14,776
Bad Credit 7 $12,929
Horrible Credit 6 $11,082

This is simply an estimation. You may be approved to finance more than this, or less. Submit your application to see your options.

Verification Guidelines for Your Phoenix Car Loan

Basically, the lower your credit score, the more paperwork you’ll have to provide. Dealers and lenders in Phoenix and elsewhere ordinarily require the following documentation:

  • Personal Identification
  • Proof of Income, Residence, and Insurance
  • Personal References

You should ask your auto finance expert what documentation is necessary for the bank or lender who approves your credit.

Buy Here Pay Here Dealers in Phoenix, Arizona

Most people in Phoenix head for buy here pay here car lots, also called in house financing dealers, convinced that they will only be able to get approved at such a place. Not so. It’s true, they don’t perform credit assessments, which means your credit problems probably won’t be an impediment to approval, but you will end up paying handsomely for this. Regrettably, you should expect excessive loan rates, massive down payments, and cars and trucks that are too expensive for how much mileage and wear they have been through. Is boosting your credit one of your goals? If so, you are better off applying through us, since BHPH car lots won’t help you in improving your credit.

Cars in Phoenix That Fit Your Budget

The best car, price-wise, will depend on your income and credit. This chart demonstrates how much the Phoenix consumer ought to spend based on a monthly income of $148, a payment of $148, and a repayment term of 5 years.

Great Credit Decent Credit Bad Credit
Monthly Payment $148 $148 $148
Rate 3.50% 7.00% 11.00%
Money Down $2,031 $1,866 $1,699
Amount Borrowed $8,122 $7,462 $6,796
Total Interest $743 $1,403 $2,070
Total with Interest $10,896 $10,731 $10,565
Purchase Price $10,153 $9,328 $8,495

Cars for Sale in Phoenix


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