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Auto Loans in Gainesville (GA)

Here at Motive Auto Finance, we understand the hurdles faced by car-shoppers in Georgia, particularly those with credit problems. It’s necessary to find a lender or dealer that serves your credit tier. We’ve spent years developing an extensive network of dealers and lenders that whose mission is getting you into the car of your dreams.

Simply apply online, and we will do our very best to find you a lender or dealer in Gainesville able to finance your credit.

Gainesville Car Lots That Approve Bad Credit

If you’re looking for an auto dealer that takes bad credit, your search is over. When compared with a BHPH dealer, such dealers are able to offer more desirable loans. You may not be eligible to finance the most luxurious car in the showroom. Below is an example based on the average per-capita income in Gainesville, $2,878 per month:

  • Outstanding Credit: $28,780 (Income x 10)
  • Fair Credit: $25,902 (Income x 9)
  • Below-Average Credit: $23,024 (Income x 8)
  • Bad Credit: $20,146 (Income x 7)
  • Horrible Credit: $17,268 (Income x 6)

Keep in mind, this is simply an approximation. You may not be eligible to finance this much, based on factors like your other loan balances, mortgage or rent payment, and type of income.

Apply online to learn how much car you can afford.

New Versus Used Vehicles

Many people are able to finance either a new or used car, but what’s the way to go? More often than not, a pre-owned vehicle is best. The rates of interest on new cars are lower, sure, but used vehicles will cost you a lot less overall.

New Car Used Car
Years Old 0 1
Price $28,780 $21,585
Down Payment $5,756 $2,159
APR 5.00% 7.50%
Term 60 months 48 months
Monthly Payment $434.49 $469.71
Finance Charge $3,045 $3,120
Total Paid $31,825 $24,705

Buy Here Pay Here Auto Loans in Gainesville, Georgia

Buy here pay here dealerships hopes you believe that you haven’t any option but them, but this is seldom the case. Yes, they rarely pull your credit, meaning bad credit probably won’t be an impediment to approval, but you will end up paying quite a lot for this.

Regrettably, you can expect inflated interest rates, high down payments, and well-used vehicles that are steeply-priced. As if that weren’t enough, these dealerships rarely report back to the credit bureaus, so you could make all of your payments when they’re due without reviving your FICO score.

Financing Recommendations for Gainesville Residents

If you don’t want to struggle to pay your lender each month, you should spend no more than 10% of your monthly income on financing a car. Furthermore, opt for a 5-year repayment term at most. This means a car which costs approximately half of what you earn per year. If you earn $34,536 per year, the average in Gainesville, you would buy a car that costs $17,268. Please remember, this is at the upper end of what you ought to spend. Quite a few professionals propose paying just 10-30% of your income for a car.

Used Cars in Gainesville, GA for Sale

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