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Auto Loans in Tallahassee (FL)

Are you worried about purchasing a car because of bad credit? We’d be happy to help. We have access to a vast network of dealers and lenders, and we have some of the highest rates of approval in the industry. We put you in touch with a financing specialist whose job is to get you approved for the car loan you need.

Auto Loans Tallahassee FL

Bad Credit Car Dealers in Tallahassee, FL

A lot of dealerships that offer auto loans without third party approval, generally known as buy here pay here dealers, don’t do credit inquiries. However, chances are they don’t report to the credit bureaus, so they will not help you restore your credit. It’s better to find a dealer that grants bad credit car loans in Tallahassee, Florida through a legitimate lender. As with all subprime loans, expect increased interest rates, larger down payments, and smaller loans. However, the rates and terms are much more attractive than you would be given at one of Tallahassee’s buy here pay here car lots. At Motive Auto Finance, we work with many such dealerships, and when you submit your application, we work hard to match you with one who wants to arrange your loan.

No Down Payment Car Loans in Tallahassee

A down payment, as you probably know, is the amount you have to pay for your vehicle at signing. When you get a car loan, you don’t want to owe more than the value of the vehicle. When the car is worth less than you owe, then you are upside down on the loan. A down payment works against depreciation.

Be that as it may, we understand that saving 10-20% of a new car is daunting. Many people just sell their used vehicle themselves, then use the money as a down payment.

Tote The Note Car Dealers in Tallahassee, FL

Car lots in Tallahassee that offer in-house financing are distinct from regular dealerships in several key ways. They…

  1. Offer car loans direct to the consumer.
  2. Rarely perform credit checks.
  3. Want weekly or biweekly payments, often in person.

For consumers who’ve got terrible credit, Tallahassee in house financing dealerships tend to be the only option. However, there are a couple of drawbacks:

  • High Financing Fees
  • Big Down Payments
  • High Risk of Repossession

What Car Should You Buy?

Be sure you don’t purchase more car than you really need. A maximum of 8% of your monthly earnings ought to be allocated to this new payment. As an example, Tallahassee consumers make, on average, something like $1,207 a month, and 8% of this is $97.

Good Credit Fair Credit Poor Credit
Income Per Month $1,207 $1,207 $1,207
Payment $97 $97 $97
Loan Rate 3.50% 7.00% 11.00%
Years 5 5 5
Down Payment $1,327 $1,219 $1,110
Loan Amount $5,308 $4,876 $4,441
Interest Paid $486 $917 $1,353
Price with Interest $7,121 $7,013 $6,904
Car Price $6,635 $6,096 $5,551

Used Cars in Tallahassee

Zipcode Make Model Minimum Price Maximum Price Condition
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