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Auto Loans in Cicero (IL)

Do you need to finance a car in Cicero, Illinois, with poor credit? Favorable credit may grant you more options, but we can help you get the bad credit car loan you need at a competitive rate.

Listed below are the keys to our program

  • Superior Application Placement Program
  • Extensive Network of Lenders
  • In-Depth Consumer Instruction

Auto Financing Cicero Illinois

Cicero Car Dealerships for Bad Credit

Have you thought about where you could buy your next car or truck? When you’ve got weak credit, private party car loans are generally not an option. Rather, you’ll have to buy your vehicle from a dealer. Luckily, there are dealers that cater to adverse credit. As opposed to buy here pay here dealers, these dealers offer:

  • Interest rates that aren’t astronomical.
  • Down payments you can afford.
  • Vehicles that have less mileage.

The types of vehicles you’re eligible for will be based on your income and credit score. We recommend you go with a vehicle that won’t strain your finances, having a payment equal to 10% of your income–no more. If you get paid $3,170 monthly, this is a payment of $317.

A vehicle finance expert can help you determine how much you’re qualified to borrow, and at what interest rate. Just go here to submit your application.

New or Pre-owned: Have You Decided?

Have you decided whether you want to buy a used or new car? It’s an important decision. Because new cars drop in value so quickly, you might want to consider a used vehicle.

New Car Pre-owned Car
Age New 1 Year Old
Price $31,700 $23,775
Down Payment $6,340 $2,378
Loan Rate 5.00% 7.50%
Length 60 months 48 months
Monthly Payment $478.57 $517.37
Finance Charge $3,354 $3,436
Amount Paid $35,054 $27,211

Buy Here Pay Here Financing in Cicero, IL

Buy here pay here dealerships would love you to believe that they are the only ones that will finance you. However, this usually isn’t the case. Dealers like these will finance almost anyone, no matter their credit, but there are problems with sort of financing.

You will discover that preowned cars and trucks are the only thing you can buy, and these aren’t zero down car deals. Quite often, the down payment is set at the vehicle’s value on the wholesale market. Interest rates that equal the state’s maximum legal limit aren’t uncommon. Because of this, these dealerships don’t have a good reputation. Let us connect you with a reputable dealer who can get you in the car or truck you want, even if you have bad credit.

Selecting a Vehicle

Be careful not to purchase a car that’s not really affordable. This table demonstrates how much car the average Cicero consumer can afford based on an income of $3,170 a month, a car payment equivalent to 8% of this income ($254), and a finance term of 5 years.

Exceptional Credit Fair Credit Poor Credit
Payment $254 $254 $254
Loan Rate 3.50% 7.00% 11.00%
Money Down $3,485 $3,202 $2,916
Borrowed Funds $13,940 $12,807 $11,664
Total Interest $1,276 $2,409 $3,552
Total Paid $18,701 $18,418 $18,132
Vehicle Price $17,425 $16,009 $14,580

Used Cars from Cicero Dealers


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