Every day, we help people in Dalton get approved for car loans, regardless of whether they’re trying to overcome obstacles such as:
- Rocky Credit
- Lack of Credit
- No Money Down
We do business with an extensive network of lenders and dealers, and we have finance professionals set and ready, expecting your application. Normally, we’re able to match our applicants with a willing dealer or lender in as little as a minute.
Bad Credit Car Dealers in Dalton, GA
Car dealers with departments specializing in sub-prime financing are frequently known as bad credit dealerships. As opposed to buy here pay here dealers, these larger dealers offer:
- Interest rates that aren’t extortionate.
- Down payments that won’t leave you broke.
- Vehicles that are more dependable.
Your income and credit will dictate how much car you can afford. With poor credit, you can finance six to eight times your monthly income. For the Dalton resident making $1,608 each month, this is $9,648 to $12,864. With that being said, it’s far better to borrow a limited amount, limiting your monthly payment to only 10% of your income–$161, in our example.
Submit an application to talk to a vehicle finance expert about how much you can borrow.
Lowering Your Interest Rates
Getting a lower interest rate on your loan can pay big dividends.
Believe it or not, a lesser rate of interest could save you hundreds of dollars, as you can see in the table below.
|Good Credit||Decent Credit||Poor Credit|
|Rate of Interest||3.50% APR||7.00% APR||11.00% APR|
For starters, searching for and correcting any errors on your credit report can give your credit a boost, and we all know that increased scores translate into better rates. Second of all, lenders consider your monthly debts as a percentage of your income–your debt-to-income ratio–so paying off some of your other debts can result in a better interest rate. It is advisable to opt for a loan that isn’t too long. Your monthly payments will be higher, but you’ll pay less in the end. Loan amount, as a percentage of the cost of the vehicle, is another significant factor. A greater down payment makes for a more favorable loan-to-value ratio, which should help in decreasing your rate of interest.
Buy Here Pay Here Dealerships in Dalton, GA
Buy here pay here dealers ordinarily finance people who’ve got acute credit problems such as bankruptcy or foreclosure of a home. It’s true, they do not look at your credit, which means your credit problems shouldn’t be a barrier to approval, but you really pay for this in the long run. Unfortunately, you can expect excessive loan rates, high down payments, and cars and trucks that cost too much given their condition. This is why these car dealers don’t have an outstanding reputation. Let us place you in the hands of dealer finance specialist who can get your loan funded, regardless of your credit.
Budgeting Guidelines for Dalton Residents
If saving is one of your priorities, you should spend only about 8-10% of your monthly income on this car loan. Moreover, opt for a 60-month repayment term at the maximum. This will buy you a car or truck that costs around 50% of your annual income. Here in Dalton, where the average income is $19,294 annually, this would be $9,648 to commit to a vehicle. Cars don’t hold their value like homes, which means you should spend the least amount you can to get a car that is dependable.