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Auto Loans in East Hartford (CT)

We understand the hurdles faced by consumers in need of financing, particularly if they have credit problems of some kind. We allow you to find a dealer or lender who can fund loans for individuals who’ve got credit problems. For years, we’ve been establishing a vast network of dealers and lenders who want to finance your car, whether you’d like a used car or a new one. Just submit your loan application, and we’ll find you a dealer or lender in East Hartford that can finance your credit.

Bad Credit Car Dealers in East Hartford, CT

With the surge in bad credit as a result of the economic crisis, more and more dealerships now have finance departments specializing in subprime auto loans. In comparison with a buy here pay here dealer, such dealers typically offer:

  • Less owed on the lot, in terms of money down.
  • Reduced interest rates.
  • Less chance of being the target of underhanded lending.
  • Option to improve your credit score.

Your credit and income determines how much car you can get financed. Below is an example based on an income of $1,731 per month, the average in East Hartford:

Minimum Credit Score Income Factor Sum
700 10 $17,310
625 9 $15,579
575 8 $13,848
525 7 $12,117
300 6 $10,386

Keep in mind, these are only estimates. You might be approved to borrow more than this, or less.

An experienced finance professional can help you determine how much you’re eligible to borrow, and at what rate. In order to talk to one, be sure you submit your application.

Should You Finance a Brand New Vehicle?

New and used cars each offer their own merits. Given that new cars depreciate so fast, used cars tend to be a better deal.

New Car Pre-owned Car
Years Old 0 1
Price $17,310 $12,983
Down Payment $3,462 $1,298
Loan Rate 5.00% 7.50%
Years 5 4
Payment Amount $261.33 $282.51
Interest Paid $1,832 $1,876
Total Expenditure $19,142 $14,859

Buy Here Pay Here Car Lots in East Hartford, CT

Have you considered financing a car through a BHPH dealer because of bad credit? Normally, there are more attractive options. Dealers like these will approve practically anyone, regardless of their credit, but you will find downsides.

You will discover that preowned cars and trucks are the only ones offered, and dealers may make you make payments weekly, in person. Repossession is frequent, and the interest rates are out of this world. Is improving your credit a concern for you? Then you are better off applying through us, since BHPH dealerships won’t assist you in raising your credit.

Financing Recommendations for East Hartford Residents

If your financial comfort is a priority for you, your car payment should not exceed 10% of what you make each month. In addition, finance your vehicle for no longer than 60 months. This equals a vehicle costing around half of what you make on a yearly basis (pre-tax). In East Hartford, where the average income is $20,766 per annum, the average consumer would buy a vehicle costing around $10,386. Please remember, this is the cap on what you ought to budget. Quite a few experts advocate budgeting just 10-30% of your income for the next car you buy.

Used Cars in East Hartford, CT

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