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Auto Loans in Venice (FL)

Getting a car financed with a bad credit score used to be just about impossible – until we became an industry-leader and streamlined the process. We work with car dealers and lenders who finance auto loans for people with bad credit in Venice.

After you submit your application, we can find you a finance company in Venice who would like to get you get you in the driver’s seat of a new car or truck, no matter your credit.

Bad Credit Car Dealerships in Venice, Florida

Don’t let credit keep you from buying your new car. We work with dealers all across Florida that can give you a second shot at financing. Just like any subprime loan, there are certain things to be expected:

  • Elevated rates of interest.
  • More money owed upfront.
  • Less expensive assets (vehicles).

On the other hand, they will get you approved for financing through banks and finance companies that report to the credit bureaus, providing you with the ability to increase your credit score. There are many of these dealers in our network, and they want to get you behind the wheel of the car you deserve. Just go here to submit your application.

Should You Buy a New or Used Vehicle?

New versus used? The choice is yours. Since new cars drop in value so rapidly, it’s sometimes a better idea to let another buyer pay the depreciation, and buy a car that’s 1-3 years old.

New Car Pre-owned Car
Age New 1 Year Old
Price $16,360 $12,270
Down Payment $3,272 $1,227
Interest Rate 5.00% 7.50%
Length 5 years 4 years
Payment Per Month $246.99 $267.01
Total Interest $1,731 $1,773
Total Paid $18,091 $14,043

Buy Here Pay Here (BHPH) Dealers in Venice, FL

Maybe you’ve thought of getting your auto loan at a buy here pay here car dealer in Venice? These types of Venice in house financing car dealerships supply financing on-site, usually with no a credit check. Considering they don’t depend on a traditional bank or finance company to approve the applicants, they’re able to support a wide variety of customers.

If you have really bad credit, Venice buy here pay here car lots tend to be the only real option. But keep in mind, the annual percentage rates are a lot higher than you’d get from a dealership that offers indirect lending. In addition, they hardly ever report payments to the credit bureaus, meaning your credit rating isn’t likely to get better as a result of the loan.

Budgeting for Your New Car

Dealer lots in Venice are loaded with cars that you could purchase, but which will cost you more than you need to spend. At most, 8% of your monthly income should be put toward this new payment. For people living in Venice, with an average income of $1,636, this is $131.

Great Credit Fair Credit Subprime Credit
Monthly Income $1,636 $1,636 $1,636
Payment Amount $131 $131 $131
APR 3.50% 7.00% 11.00%
Money Down $1,799 $1,652 $1,505
Interest Paid $658 $1,243 $1,833
Total Investment $9,651 $9,505 $9,358
Sticker Price $8,993 $8,262 $7,524

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