Getting a car financed was easy prior to the recession, but not any longer. We help you to find a bank or dealer that can get you the loan you need at a rate that’s affordable. We have spent years forming a vast network of dealers and finance companies who cater to a wide assortment of credit scores, not just the highest tiers.
All you have to do is submit your loan application. You will be paired with a lending specialist to guide you right into your new car.
Clovis Car Lots for Bad Credit
If you are searching for an auto dealer in Clovis that will finance low credit scores, welcome to Motive Auto Finance: we’re here to help obtain the loan you need. Typically, these dealerships offer:
- Interest rates that aren’t exorbitant.
- Down payments that are affordable.
- New vehicles, not just pre-owned ones.
Your credit and income determines which cars you’re eligible to finance. With credit problems, the most you can borrow is 6 to 8 times your monthly income. For residents of Clovis earning $1,977 a month, this is $11,862 to $15,816. That being said, a maximum of 10% of your income ($198, in this case) should be earmarked for your car payment, which will put a cap on the amount you can spend..
Submit your application to speak with a finance professional about how much you can borrow.
Buying a Car in Clovis with Nothing Down
A down payment may be a challenge, but for those who have credit problems, it’s sometimes a necessity. Lenders want you to supply a down payment, mainly because it will lower risk inherent in the loan, which means a cheaper interest rate. The good news is, the money from trading in your used vehicle can usually be used toward your down payment, helping you to finance a car with no money down, at least in cash.
Buy Here Pay Here Auto Loans in Clovis, California
Considering BHPH financing because of bad credit? Ordinarily, there are more attractive options. They might not perform credit assessments, which means bad credit ought not be an impediment to getting approved, but you will really pay for this in the long term.
Sadly, you should be prepared for exorbitant interest rates, huge down payments, and cars and trucks that cost too much given their mileage. Worse, these dealerships almost never report to the credit agencies, and that means you could make all of your payments as agreed without any boost to your FICO score.
What Car Should You Buy?
Make certain not to buy more car than you really need. Just 8% of your income each month ought to be spent on this new payment. For instance, Clovis consumers have an average income of $1,977 per month, and 8% of this is $158.
|Exceptional Credit||Decent Credit||Poor Credit|
|Price with Interest||$11,663||$11,486||$11,308|