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Auto Loans in Dania (FL)

Across the nation, lending institutions have imposed stricter acceptance criteria for auto loans, and Dania is no exception. No one knows bad credit financing like we do. Day after day, we help consumers in Dania finance a car despite setbacks such as:

Bad Credit Car Loan in Dania FL
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  • A Bad Credit Score
  • Minimal Credit
  • Bankruptcy
  • Unsecured Debts

It’s simply what we do. Ready to begin? Follow this link to submit your application.

Bad Credit Car Dealerships in Dania, FL

Have you considered where you could buy your new car? With poor credit, you’ll probably have to buy your car from a dealer, not a private individual, since the majority of lenders do not offer private party auto loans for people who’ve low credit scores. Thankfully there are dealers that work with less-than-perfect credit. Just like any subprime loan, expect higher rates of interest and larger down payments, not to mention shorter lending terms. Having said that, the experience is better than that of a buy here pay here car lot, and your vehicle will likely cost you less in the long run. Here at Motive Auto Finance, we work with many such dealerships, and they want to get you the car you want. Just go here to apply online.

Do You Need a Down Payment?

A down payment, as you might know, is the money you have to pay in advance, either in cash or trade, on the day you purchase any vehicle that’s financed. A down payment decreases investment risk, as the lender will have a better chance of recouping their losses if the vehicle must be repossessed. For you, the consumer, a down payment helps you avert negative equity.

It isn’t impossible to buy a car in Dania without any cash down, particularly if you have a high credit score. Submit an application online to get in touch with an auto finance consultant for additional information.

Dania Buy Here Pay Here Car Lots

Buy here pay here car dealers typically finance people who have truly serious credit problems like:

  • Chapter 7 or 13 Bankruptcy
  • Asset Repossession
  • Judgments

These dealers will finance almost anyone, no matter their credit, but there are problems with sort of financing. Problems include inflated rates and older vehicles and weekly payments There’s more: these car lots almost never report to the credit agencies, which means you could make each and every payment on time without making improvements to your FICO score.

Budgeting Recommendations for Dania Consumers

All in all, you should allocate, at the maximum, 10% of your monthly income for the payment on the car you’re financing. Be cautious, however, that you don’t end up with overly protracted financing, which can lead to more interest and negative equity. Instead, try to repay your loan in as few years as possible. With this payment and repayment period, you will be buying a car or truck costing roughly half of what you make per year. For Dania residents with incomes of $36,020 per year, this is a vehicle costing $18,012. Take note, this is the upper threshold of what you should spend. Various experts advise budgeting just 10-30% of your income for the next car you buy.

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