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Auto Loans in Deerfield Beach (FL)

Bankruptcy, repossession, and foreclosure–the rates of which are rising–can damage your credit score. We know full well the difficulties that Deerfield Beach consumers struggle with when they have bad credit. Every single day, we help men and women in Deerfield Beach get approved for the cars they want regardless of:

Bad Credit Car Loan Deerfield Beach Florida
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  • A Bad Credit Score
  • Minimal Credit
  • Bankruptcies
  • Repossession

This is what we do. Want to get going? Just click here to apply online.

Deerfield Beach Car Lots That Finance Bad Credit

Bad credit doesn’t have to stop you from buying your next car. We work with dealerships all across Florida who are willing to compete for your business. Contrary to buy here pay here dealers, these types of dealers offer:

  • Interest rates that aren’t excessively high.
  • Down payments you can afford.
  • New vehicles, as well as pre-owned ones.

Your income and credit dictates the cars you’re eligible to finance. Below is an example based on the average per-person income in Deerfield Beach, $2,726 per month:

  • Great Credit: $27,260 (Income x 10)
  • Fair Credit: $24,534 (Income x 9)
  • Sub-Prime Credit: $21,808 (Income x 8)
  • Bad Credit: $19,082 (Income x 7)
  • Very Bad Credit: $16,356 (Income x 6)

These estimations are not absolute. You may not get to borrow this much, depending on your other debts and the specifics of your credit record. Submit an application to have a finance expert confirm your options.

Essential Documentation for Deerfield Beach Borrowers

You may be required to take certain paperwork with you as you go to sign for your new car or truck. Lenders want to know that you can legally drive the vehicle under consideration, so your driver’s license is important to have. Lenders usually need to see no less than two recently dated paycheck stubs, but more may be requested based on your credit score. Insurance verification is an additional prerequisite. The minimum Florida requirements won’t suffice. You’ll need a full coverage insurance policy, including both comprehensive and collision coverage, during the whole term of the loan. Address verification is yet another requirement, and a fairly easy one: simply bring a copy of your lease or an electric bill. Personal references may be used to check the application data that you have provided.

You’ll want to ask your auto finance specialist what documentation is required for the lender who approves your credit.

Deerfield Beach Buy Here Pay Here Car Lots

Consumers in Deerfield Beach turn to buy here pay here dealers, of the belief that they will only be able to get financed without a credit check. Not the case. Dealers like these will approve almost anyone, no matter their credit, but you will find problems with sort of financing. The fact is, you will be faced with inflated interest rates, high down payments, and somewhat battered vehicles that are too expensive in light of their condition. Is elevating your credit a priority for you? Then you should contact a vehicle finance professional through us, seeing as BHPH dealerships won’t help you in raising your credit.

Cars in Deerfield Beach For Your Budget

It is crucial to pick a vehicle that fits your budget. Have a look at the scenarios below, which indicate how much the Deerfield Beach consumer ought to spend based on a monthly income of $2,726, a car payment equal to 8% of this income, and a term of 60 months.

Good Credit Fair Credit Bad Credit
Payment $218 $218 $218
Interest Rate 3.50% 7.00% 11.00%
Years 5 5 5
Down Payment $2,997 $2,753 $2,508
Interest Paid $1,097 $2,071 $3,055
Total Paid $16,082 $15,838 $15,592
Sticker Price $14,985 $13,767 $12,538

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