If you are searching for a new car, you probably need a car loan. We help buyers in Parker and across the state of Colorado who would like to arrange their auto loans long before they visit the dealer. It truly is difficult to imagine an easier way to get your auto loan.
Bad Credit Car Dealers in Parker, CO
Have you given thought to where to buy your next car? When you’ve got below-average credit, private party auto loans are generally out of the question. Instead you’ll have to make your purchase at a local Parker dealership. Thank goodness there are dealerships that cater to poor credit. As compared to a buy here pay here dealer, such dealers offer:
- Cheaper rates of interest.
- Lower down payments.
- More attractive finance terms.
- Less risk of being swindled.
- Chance to rebuild your credit.
You may not be able to finance just any car in the showroom. Ordinarily, when you’ve got a low credit score, you can finance six to eight times your monthly income. For residents of Parker making $6,863 per month, this is $41,178 to $54,904. That said, you’d be smart to borrow a limited amount, restricting your monthly payment to 10% of your income–$686, in this case. Apply online to learn your options.
New Versus Pre-owned Cars
New or used? The choice is yours. In a lot of cases, a pre-owned car is a better deal. The interest rates on new cars are lower, but pre-owned vehicles are substantially cheaper.
|New Car||Pre-owned Car|
|Payment Per Month||$1,036.11||$746.73|
In House Financing Car Dealers in Parker, CO
Sometimes referred to as buy here pay here, tote the note, or your job is your credit car lots, these businesses typically have a few main features. They…
- Approve car loans in-house.
- Don’t check your credit.
- Demand weekly or twice-monthly payments, often at the lot.
If you have horrible credit, Parker in house financing car dealers are often the only real option. But bear in mind, Colorado poor credit auto loans from credit unions and banks typically feature lower rates.
Can Financing Rebuild Your Credit?
There are a trio of leading credit reporting agencies:
In all probability, your lender will report your payments to these bureaus, imperative if you want to get your credit on the right track. By making payments month after month, you show banks and lenders that they’re likely to have the funds they lend you paid back on time. Payments made late, however, can decrease your FICO score, and in a big way! In order to be sure you never miss a payment, consider an automated calendar reminder or pre-arranged deduction from your banking account.