In the market for a new or used car or truck? If you’re like most car-shoppers in Murrieta, you probably are going to need an auto loan. For years, we’ve been establishing relationships with lenders and dealers across California, and that means we can help applicants of all credit tiers and income brackets. Ordinarily, we can match consumers with an appropriate dealer or lender in real time.
Murrieta Car Lots That Accept Bad Credit
If you are searching for a dealer in Murrieta that offers loans to people with bad credit, welcome to Motive Auto Finance: we can help. In any non-prime financing arrangement, expect steeper rates of interest and larger down payments, not to mention smaller loans. On the plus side, they will get your loan funded through lenders that report back to the credit agenciesallowing you to repair your credit. We work with many such dealerships, and when you submit your application, we connect you with one who wants to approve your credit.
No Money Down Car Deals in Murrieta
Even if you have a good credit score, a down payment can be an obstacle that’s tough to overcome. A down payment reduces your loan-to-value ratio (LTV) by reducing the size of the loan versus the cost of the vehicle–thereby resulting in:
- Lower APR.
- Less owed in total interest.
- Fewer concerns with being under water.
Zero down car loans aren’t a myth, but it’s more common to trade in their used car or truck in order to satisfy any down payment standards.
Murrieta Buy Here Pay Here Financing
Buy here pay here dealers would love you to think that they’re your only option. However, this generally isn’t the case. These car lots provide car loans directly, whereas conventional dealers outsource this, and they are more focused on your job than your credit.
Regrettably, you will be faced with high annual percentage rates, expensive down payments, and vehicles that are too expensive for the kind of shape they’re in. Is improving your credit important to you? Then you should contact a vehicle finance specialist through us, since BHPH dealers won’t aid you in restoring your credit.
Budgeting Recommendations for Murrieta Consumers
If your financial well being is important to you, your car payment should not account for more than 10% of what you make each month. Also, choose a 5-year repayment at the very most. With this payment and repayment period, you will be getting a car costing roughly 50% of your annual income. If you earn $37,930 annually, the average in Murrieta, this would equate to a $18,966 car. In the end, the less you’re able to spend while still acquiring a dependable vehicle, the better.