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Auto Loans in Hawaii (HI)

Has your credit been turned down before? It’s crucial that you work with a bank or dealer who won’t just approve your credit, but give you the opportunity to restore it. We have established a wide-ranging network of dealers and finance companies that can serve a wide array of credit scores, not just the highest echelons.

All you need to do is apply online, and you will be a few short steps away from the new car you want.

Bad Credit Car Dealerships in Hawaii

Hawaii In House FinancingYou shouldn’t let credit stand in the way of your new car. We have access to dealerships in Hawaii who are willing to compete for your business. For the most part, these dealerships offer:

  • Interest rates that aren’t excessively high.
  • Down payments that are affordable.
  • Vehicles that have fewer maintenance issues.

The cars and trucks for which you’re qualified will be based on the amount of income you make per month, and how high or low your credit score is. You’ll want to find an inexpensive, dependable vehicle having payments amounting to 10% of your income–no more. For people who earn $3,289 a month, the average in Hawaii, this would be a payment of $329.

A dedicated finance professional is standing by, waiting to determine how much you’re eligible to borrow, and at what rate. If you’d like to speak to one, make sure to apply online.

New Versus Used Cars

We’ve seen that a good number of consumers don’t realize they can get a loan for a new or used vehicle. Given that new cars depreciate so fast, you may be happier with a used vehicle.

New Car Used Car
Years Old 0 3
Price $32,888 $16,444
Down Payment $6,578 $1,644
Interest Rate 5.00% 7.50%
Months 60 48
Payment $497 $358
Finance Charge $3,480 $2,377
Total Outlay $36,369 $18,821

Buy Here Pay Here (BHPH) Dealers in HI

Car dealers in Hawaii that advertise buy here pay here financing have certain commonalities:

  • They furnish car loans directly.
  • They do not require credit checks.
  • They want you to pay them every week, often at the lot.

Countless people with really low credit believe that a buy here pay here car lot is the only real place that will be willing to finance them, even though Hawaii poor credit auto loans from banks and credit unions typically involve less expensive rates.

Repairing Your Credit in Hawaii

Along with giving you the funds required, an auto loan has the ability to help you raise your credit. Increases in credit score aren’t instantaneous, but after 6-8 months of on time payments, you should notice your credit score start increasing. Keep in mind that credit score increases are gradual, developing with time. It is difficult to say precisely how much your score will climb, but some industry professionals have indicated a 5-10% improvement monthly.