Have you been declined for a car loan as a result of credit problems? It’s advisable to find a dealer or lender who finances cars at reasonable rates, even for consumers with below-average credit. We’re proud to represent a wide-ranging network of dealers and lenders that can serve a wide assortment of credit scores, not just the uppermost levels. Simply apply online, and we will connect you with a lender or dealer that can fund your purchase.
Bad Credit Car Dealerships in Stamford, CT
In this day and age, many dealerships have finance departments that specialize in financing people who have poor credit. In any non-prime financing arrangement, there are certain things to be expected more expensive interest rates and larger down payments, together with smaller loans. But keep in mind, the rates and terms are more favorable than you would be offered at a buy here pay here dealer. We work with many such dealerships, and you can get pre-approved by applying online.
Purchasing a Car in Stamford with No Down Payment
A down payment might be a hassle, but for those who have poor credit, it’s sometimes a requirement. The amount you’ll be required to put down depends on the vehicle itself, its age and price, not to mention your credit. Have a look at the data we’ve included.
|New Car||1 Year Old Car||2 Year Old Car||3 Year Old Car|
|Percentage of Initial Value||100%||75%||60%||50%|
Bear in mind that the money from trading in your old vehicle can usually be used toward your down payment. By doing so, you can, in effect, finance a car without putting anything down in cash.
Stamford Buy Here Pay Here Car Lots
Maybe you’ve thought about a buy here pay here dealer because of bad credit? Normally, there are more attractive alternatives. These types of car lots provide auto loans directly, as opposed to traditional dealers which make use of banks and lending companies, and they will typically finance anyone. Drawbacks include ridiculous annual percentage rates and older vehicles with GPS tracking devices to aid in repossession There’s a good reason that these dealerships have a dirty reputation. We can place you in the hands of a reputable dealer who can get you approved, regardless of your credit.
How Much You Ought to Spend on a Car
It’s easy to buy a more expensive vehicle than is prudent. Just 8% of your monthly income should be put toward your loan payment. For a consumer making $1,797 per month, the average in Stamford, this is $144.
|Exceptional Credit||Okay Credit||Bad Credit|
|Term Length||60 Months||60 Months||60 Months|