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Auto Loans in Boca Raton (FL)

Banks and lenders will perform a credit check when deciding whether the should fund your loan. If you have a low score, you may face issues trying to get financed. It’s advisable to find a dealer or lender that has experience financing buyers with poor credit. We’re proud to represent an unmatched network of lenders and dealers who are willing to consider your application, even if you have sub-prime to downright bad credit.

Your auto finance manager can help you:

  • Check rates.
  • Choose your bank or finance company.
  • Choose a new or used car.

Go ahead and contact a dedicated finance specialist.

Car Loan Boca Raton FL

Bad Credit Car Dealerships in Boca Raton, Florida

You shouldn’t let credit prevent you from buying your new car. We can pair you with dealers in Boca Raton that want to get you behind the wheel, no matter your credit score. As with all subprime loans, you can expect:

  • Rates of interest that are higher.
  • Down payments that are larger.
  • Payment periods that are shorter.

On the plus side, it’s far better than not having a new car at all, and these dealers can help you restore your credit through timely repayments. There are a great number of dealerships in our network, and when you submit your application, we work hard to pair you with one who wants to put you in the driver’s seat.

Should You Buy a Pre-owned Vehicle?

It’s a big question: is a used car a better value than a new one? You’re able to finance new cars at more affordable rates, but you wind up paying a good deal more when it comes to purchase price and down payment.

New Car Pre-owned Car
Age New 3 Years Old
Price $27,940 $13,970
Down Payment $5,588 $1,397
Interest Rate 5.00% 7.50%
Months 60 48
Payment $421.81 $304.00
Total Interest $2,957 $2,019
Total Amount Paid $30,897 $15,989

Boca Raton Buy Here Pay Here Dealers

For those who have overwhelming credit problems on account of issues like bankruptcy or foreclosure, buy here pay here financing could possibly sound like the only option. These dealers will finance just about anyone, no matter their credit, but there are issues. Cons include:

  • Exorbitant Finance Fees
  • Huge Down Payments
  • Overpriced Cars and Trucks
  • GPS Monitoring Devices

As if that weren’t a problem, these car lots don’t report to the credit reporting agencies, which means you could make all of your payments on a monthly basis without a boost to your credit score.

Managing the Cost for Your New Car

You can easily buy a car that stretches your finances. Not more than 8% of your monthly earnings should be devoted to your new payment. If you live in Boca Raton and make $2,794 a month, this would be $224.

Exceptional Credit Okay Credit Bad Credit
Payment Amount $224 $224 $224
Rate 3.50% 7.00% 11.00%
Years 5 5 5
Money Down $3,072 $2,822 $2,570
Interest Paid $1,124 $2,123 $3,131
Total with Interest $16,483 $16,233 $15,981
Sticker Price $15,359 $14,110 $12,850

Cars for Sale in Boca Raton, FL

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