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Auto Loans in Benton (AR)

For individuals with poor credit, finding a car dealership in Benton, Arkansas, willing to approve them is the largest barrier to coming home with a new car, truck, or SUV, even if it’s pre-owned. We believe that auto financing ought not to be such a battle for people in Benton, Arkansas, whatever their credit scores may be. In under one minute, we can connect you with an auto lending company in Benton who can get you get you in the driver’s seat of a new car or truck, no matter your credit.

Bad Credit Car Dealers in Benton, Arkansas

When you have a low credit score, many traditional lending institutions aren’t going to approve you for a loan. However, there are dealers and specialty lenders that accept credit-challenged individuals. When compared with a BHPH dealer, such dealers offer much better loans, financed by reputable banks and finance companies. You may not be able to finance just any car on the lot. Here is an example based on the average per-capita income in Benton, $1,507 per month:

Credit Score Multiplier Loan Amount
700 10 $15,070
625 9 $13,563
575 8 $12,056
525 7 $10,549
300 6 $9,042

These are just approximations. You may meet the requirements to finance a bigger or smaller amount.

A lending expert will determine how much you can borrow, and at what rate of interest. If you want to chat with one, make sure to submit your application.

Buying a Car in Benton with No Down Payment

It’s often necessary to make a down payment on the vehicle you want–this is particularly true if you’ve got a bad credit score. A down payment brings down your LTV (loan-to-value) ratio by minimizing the size of the loan versus the value of the vehicle–thereby resulting in:

  • Reduced annual percentage rate.
  • Less owed in total interest.
  • Less of a problem with negative equity.

It may be possible to finance a car in Benton with no cash down, particularly if you have a pre-owned vehicle to offer in trade. Consult a qualified finance agent and discuss your options.

Buy Here Pay Here Dealers in Benton, AR

Maybe you’ve thought about getting a car loan through a buy here pay here car dealer in Benton? These types of Benton bad credit dealers supply financing themselves, usually without checking the applicant’s credit. Because they don’t depend on a bank or investment company for financing, they’re able to help a wide variety of applicants.

Countless folks with really horrible credit think that an in house financing car lot is the only real place that will be willing to accept their credit. Unfortunately, the loan rates are more expensive than you’d be given by a conventional lender. Furthermore they don’t usually report payments to the credit bureaus, which means your FICO rating won’t increase even if they pay off the loan as scheduled.

Rebuilding Your Credit in Benton

If improving your credit score is a goal of yours, stay clear of buy here pay here dealers. The lenders and dealers in our network can help you restore your credit. An auto loan:

  • Gives you the ability to supercharge your payment history (35% of your score).
  • Improves your credit mix, or the array of credit types in your profile (10% of your score).

Remember that credit improvements are progress, gaining traction in the course of months, even years. Many dealers and lenders help you set up a scheduled payment each month, so the funds are taken from your checking account.

Used Cars in Benton, AR

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