A car, truck, or SUV is one of the bigger purchases in life, but if you are clever about how you handle the financing part of the equation, you can save a small fortune in the long run. We help buyers in Pembroke Pines and across Florida who wish to get approved online for financing. We put you in touch with a financing specialist who will work tirelessly to get you financed.
Bad Credit Car Dealerships in Pembroke Pines, FL
It is advisable to stay clear of buy here pay here lots, choosing instead to deal with larger dealerships that work with people with credit problems, and in the process provide a much better lending experience. For the most part, these types of dealers offer:
- Fairer interest rates.
- Reasonable down payments.
- New and pre-owned vehicles.
The dealer will assess your credit and income to determine which models you can afford to finance. So as to reduce the risk of loan default or repossession, purchase a modest, reliable vehicle that has payments amounting to 10% of your income–any higher, and you may find it challenging to make your payments on schedule. If you get paid $3,517 per month, this comes to a payment of $352.
Apply online to have a finance professional confirm your options.
Can You Finance a Car with Zero Down?
Are you hoping to purchase a new car with zero down payment? A down payment affords you various advantages:
- Less risk of negative equity.
- Fewer funds need be borrowed.
- Lower risk loan, which means a reduced rate of interest.
Consumers in Pembroke Pines do from time to time buy cars with no money down, but it’s more common that they trade in a pre-owned car or truck in order to satisfy any down payment requirement.
Pembroke Pines Buy Here Pay Here Car Lots
When you’ve got experienced bankruptcy or debt settlement, a buy here pay here dealer might possibly seem like a good option. These dealerships grant financing on the lot, whereas conventional dealers contract this, and they regard your income as a form of credit.
The fact is, you will be faced with excessive interest rates, huge down payments, and well-used vehicles that are overpriced. Is elevating your credit one of your goals? If so, you are better off applying through us, since buy here pay here dealerships won’t assist you in improving your credit.
Recommendations for Buying a Car in Pembroke Pines
In most cases, you want to devote not more than 10% of your monthly income for your new car payment. If you don’t want to be under water on your vehicle, paying exorbitant finance fees, choose a repayment term of no more than 5 years. With a 10% payment and 5-year term, you will be purchasing a car that costs approximately 50% of your annual income. Here in Pembroke Pines, where the average income is $42,205 annually, this would be $21,102 to spend on a new car or truck. Ultimately, the less you’re able to spend on a solid car, the better.