We understand the stumbling-blocks faced by car-shoppers in Georgia, particularly those with credit problems. It’s crucial to find a dealer or lender that can finance folks who have imperfect credit. We have built an unmatched network of dealers and finance companies that whose mission is getting you into the car you want. Go on and submit your credit application, and you could be behind the wheel of a new car in no time.
Bad Credit Car Dealers in Valdosta, Georgia
Most traditional lenders like banks reject applications from individuals with weak credit. Thank goodness, there are dealers that do serve sub-prime consumers. Compared to a BHPH dealer, such dealers typically offer less expensive rates and more favorable terms. The exact models you’re eligible for will be determined by your income and credit score. It’s best to look for a vehicle that won’t overly tax your finances, with a payment that amounts to 10% of your income or less. If you get paid $1,662 monthly, this equals out to a payment of $166. Submit an application to see how much you can borrow.
New vs. Pre-owned Cars
Both new and pre-owned cars can be financed through Motive Auto Finance. A new vehicle is worth only 80% of its retail value after the first 12 months of ownership, and 50% after 3 years, which means you can often get more car by purchasing pre-owned.
|New Car||Used Car 1||Used Car 2||Used Car 3|
|Age||New||1 year old||2 years old||3 years old|
|Length||60 months||48 months||48 months||48 months|
Buy Here Pay Here Dealerships in Valdosta, Georgia
Considering BHPH financing because of bad credit? Normally, there are considerably better alternatives. Nearly all dealer financing is outsourced, in that car dealers go through banks or credit unions to fund the loans, but BHPH dealers engage in direct lending. They provide funding themselves. You will notice that preowned autos are the only ones you can buy, and dealers may expect you to have an ignition kill-switch placed in your vehicle. The numbers of vehicles being repossessed are high, and so are the interest rates. Even worse, these dealerships almost never work with the credit reporting agencies, which means you could make all of your payments punctually without raising your credit score.
Credit Recovery for Valdosta Borrowers
Not only will an auto loan furnish you with the money required to get your car, it can actually help you get your credit on the right track. By making payments on a regular basis, you show lenders that they’ll likely gain a return on investment if they lend to you.
The benefits are slow and steady, developing over time. Of course, the benefits to an improved score are monumental:
- Lower insurance and loan rates.
- Potential to refinance existing lines of credit.
- No security deposits for mobile phones, rentals, and home utilities.