Get an Auto Loan Quote

Auto Loans in Orlando (FL)

Getting an auto loan at a fair rate is generally the largest barrier when shopping for a new car. We want to help. It’s crucial to find a lender that won’t just accept your credit, but enable you to re-establish it. We’re very pleased to provide access to an extensive network of dealers and lenders that can provide car loans to applicants with a large assortment of credit histories, not just those with exceptional credit.

Simply complete your loan application, and you could be behind the wheel of your new car before you know it.

Orlando Dealerships That Accept Bad Credit

Dealerships dedicated to helping car-shoppers with credit problems are referred to as bad credit car dealerships. When compared with a BHPH car lot, such dealers can offer:

  • Reduced rates of interest and down payments.
  • Better lending terms.
  • Ability to improve your credit score.

Your credit and income determines how much car you can afford. Below is an example based on a monthly income of $1,866, the average in Orlando:

Credit Income Factor Sum
Good Credit 10 $18,660
Average Credit 9 $16,794
Temporary Bad Credit 8 $14,928
Poor Credit 7 $13,062
Very Bad Credit 6 $11,196

Remember that this is strictly an estimation. You may meet the requirements to borrow more than this, or less.

Apply online to have a finance expert confirm how much car you can afford.

Documentation You Will Need

You will be required to take some documents with you as you go to sign for your new car or truck.

  • License or Permit: If you do not have a license, odds are most lenders will be unwilling to finance you.
  • Proof of Income: Paystubs or tax returns enable the lender to confirm the income claimed in your application.
  • Proof of Insurance: Comprehensive coverage is mandatory, but you can often wait to purchase it with the aid of your auto finance professional.
  • Proof of Residence: Banks and lenders will require some proof of residence, for exampleyour most recent power company bill.
  • Personal References: These may be used to confirm the data included in your application.

When you apply online, we match you with a lending specialist who’ll be able to provide the details for you.

Buy Here Pay Here Dealerships in Orlando, FL

Perhaps you have considered financing a car through a BHPH dealer on account of bad credit? Usually, there are considerably better alternatives. Dealers like these will finance pretty much anybody, no matter their credit, but you will find disadvantages. Alas, you should be prepared for high interest rates, expensive down payments, and cars and trucks that cost too much given their condition. If that weren’t enough of an issue, these dealers very rarely work with the credit agencies, so you could make all of your payments on time with no lift in your credit score.

Picking a Vehicle

Often, you’ll be able to buy a more expensive car than you really need. Not more than 8% of your monthly earnings should be put toward your car payment. As one example, residents of Orlando have an average income of $1,866 a month, and 8% of this is $149.

Exceptional Credit Decent Credit Poor Credit
Payment Amount $149 $149 $149
Loan Rate 3.50% 7.00% 11.00%
Term Length 5 Years 5 Years 5 Years
Money Down $2,051 $1,885 $1,716
Note Size $8,206 $7,539 $6,866
Interest Paid $751 $1,418 $2,091
Total Paid $11,008 $10,842 $10,673
Vehicle Price $10,257 $9,424 $8,582

Used Cars in Orlando for Sale

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