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Auto Loans in Downers Grove (IL)

Auto financing for bad credit in Downers Grove, Illinois – it’s our specialty. No one appreciates the challenges of getting a car financed with poor credit like we do. In under a minute, we can set you up with a financing specialist who’ll work tirelessly to get you approved.

Downers Grove Car Dealerships for Bad Credit

Assuming you have some credit problems, dealer financing is usually the only option you have, considering that the vast majority of banks in the area won’t be willing to do business with you. There are dealers, however, with lending consultants who can help you finance the car you want. Whenever you have adverse credit, expect:

  • Rates of interest that are more expensive.
  • Down payments that are larger.
  • Loan repayment terms that are shorter.

Having said that, the rates and terms are far superior to what you would be given at a buy here pay here dealer. We have a great number of dealers in our network, and you can get pre-approved by applying online.

No Money Down Cars in Downers Grove?

Are you looking to buy a new car with no down payment? Banks and finance companies prefer that you offer money down, as doing so decreases the risk of the loan, translating to a decreased rate of interest.

We might able to help you finance a car in Downers Grove with no money down, but typically a down payment is smart.

Buy Here Pay Here Dealerships in Downers Grove, IL

Buy here pay here dealers typically finance people who’ve got acute credit problems such as going bankrupt. Normally, dealer finance is outsourced, in that dealerships go through banks and lenders with whom they have relationships to deliver the loans. By contrast, buy here pay here dealers handle everything on site. They make approval decisions on location, often without any credit check. Problems with sort of financing include:

  • Excessive Finance Fees
  • Exorbitant Down Payments
  • Overpriced Vehicles
  • Location Tracking Units

Is raising your credit a concern for you? If so, you are better off applying through us, as BHPH dealers will not help you rebuild your credit.

Which Cars Are Best For Downers Grove Residents

It’s crucial to go with a car or truck that won’t strain your finances every month. A maximum of 8% of your monthly income should be put toward this new payment. For a consumer with a monthly income of $5,462, the average in Downers Grove, this is $437.

Excellent Credit Decent Credit Subprime Credit
Payment Amount $437 $437 $437
Interest Rate 3.50% 7.00% 11.00%
Money Down $6,005 $5,517 $5,024
Loan $24,020 $22,067 $20,097
Total Interest $2,198 $4,150 $6,120
Total with Interest $32,223 $31,734 $31,242
Purchase Price $30,025 $27,584 $25,121

Select a Car in Downers Grove

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