Serious about financing a car in Fort Pierce with poor credit or no down payment? Since a lot of banks and finance companies in Fort Pierce are still rejecting people that have bad credit, it could take a long time to find a loan company who can fund your loan. Luckily, we’ve developed an advanced system for loan approval. Each day, we help consumers in Fort Pierce obtain the auto loan they need in spite of problems like:
- Bad Credit
- No History of Credit
- Property Foreclosure
- Unsettled Bills
That’s simply what we do. Are you ready to get rolling? Go here to apply online.
Fort Pierce Car Dealers for Bad Credit
If you’ve got a low credit score, dealer financing is typically your best bet, seeing as the majority of banks will be hesitant to lend you the funds you need. There are dealers, however, that have lending professionals standing by, waiting to work with you. In any subprime lending arrangement, expect:
- Rates of interest that are more expensive.
- Down payments that are bigger.
- Loans that are smaller.
With that being said, it’s better than not being able to buy a car, and these dealers can help you repair your credit and maybe even refinance your vehicle at a more affordable rate. At Motive Auto Finance, we work with many of these dealerships, and when you apply online, we can match you with one who wants to put you in the driver’s seat.
No Down Payment Car Deals in Fort Pierce
Even if your credit pretty good, a down payment can be a hindrance. Ordinarily, you must have a down payment of 10% on a car or truck that’s pre-owned, and 20% if it’s new. Check out the following example.
|New Car||Used Car 1||Used Car 2||Used Car 3|
|Age||New||1 year old||2 years old||3 years old|
|Percentage of Initial Value||100%||75%||60%||50%|
We could possibly get you approved with no down payment, but typically a down payment is just good sense.
Buy Here Pay Here (BHPH) Dealers in Fort Pierce, FL
Have you wondered about getting your auto loan through a buy here pay here car dealer in Fort Pierce? These kinds of Fort Pierce bad credit dealerships don’t depend on banks or finance companies to fund their loans, so they can service a wide selection of customers.
Sometimes people with really low credit feel that a buy here pay here car lot is the only real place that will take their credit. However, there are a variety of drawbacks:
- Excessive Financing Fees
- In-Person Payments
- High Risk of Repossession
Rules of Thumb for Financing
Take 10% of what you make per month, before taxes. You’ll want to spend no more than this on your monthly car payment. At the same time, you don’t want to finance for longer than 5 years. With this payment and repayment period, you will be buying a car costing around 50% of what you earn annually. In Fort Pierce, where the average income is $27,099 annually, the average consumer would buy a vehicle which costs approximately $13,548. Generally, the less you’re able to spend to obtain a dependable vehicle, the better.