Cars are costly these days, so it is essential to lock down the lowest annual percentage rate possible. We allow you to submit your application in real-time. We place your application with a lending professional who will help you step by step.
Warner Robins Dealerships That Finance Bad Credit
Nowadays, many dealerships have finance departments specializing in subprime financing. As compared with a BHPH dealer, such dealers offer:
- Cheaper rates.
- Smaller sized down payments.
- Less risk of dishonest practices.
- Power to raise your credit score.
You may not qualify to finance just any car in the showroom. Typically, when you have below-average credit, you can get approved for six to eight times your monthly income. For residents of Warner Robins earning $2,031 each month, this is $12,186 to $16,248. That being said, it’s far better to borrow a limited amount, limiting your monthly payment to 10% of your income–$203, in our example.
An automobile lending specialist will determine how much you’re qualified to borrow, and at what APR. To get going, all you have to do is apply online.
No Money Down Car Deals in Warner Robins
Even if your credit is excellent, having no down payment can stand in the way of financing your car. Offering a down payment lowers the risk inherent in the loan, as a reduced percentage of the vehicle has to be financed. For you, the consumer, this should a lesser rate of interest. For people with adverse credit, it could be challenging to get a car financed with zero down. However, keep this in mind: trading in your old car or truck could cover your down payment, potentially without having to put any hard-earned cash.
Buy Here Pay Here Financing in Warner Robins, Georgia
The BHPH industry has grown in the past few years, mainly because so many consumers’ credit scores took hits on account of the economy. They seldom require credit checks, so bad credit ought not be an impediment, but you really pay for this in the long run. Typically, higher-mileage autos are the only models available, and these are not no down payment cars. Usually, the down payment is set at what the dealer paid for the vehicle, and lending rates equivalent to the state’s maximum legal limit can be expected. For this reason, these retailers don’t have the best track record. We want to put you in touch with a reputable dealer who can get you in the car you need, not matter your credit.
Recommendations for Financing
Take 10% of what you make per month, before taxes. It’s best to spend no more than this on your car payment each month. If you don’t want to be car poor, paying exorbitant finance fees, go with a loan of no longer than 5 years. With a 10% payment and 5-year term, you will be buying a car or truck costing about 50% of your annual income. In Warner Robins, where the average income is $24,367 per year, the average consumer would purchase a car that costs roughly $12,186. Bear in mind, this is the upper limit of what you should spend. Various industry experts advocate ponying up even less, just 10-30% of your income for any car you buy.