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Auto Loans in Council Bluffs (IA)

Getting a car financed became a lot harder after the recession, but helping you secure financing is our top priority. It’s important to find a lending company who is able to cater to your credit and budget. We’ve established an unparalleled network of dealers and lenders who whose primary goal it is to get you into the car you need.

Go on and submit your finance application, and you could have the loan you need before you know it.

Bad Credit Car Dealers in Council Bluffs, Iowa

Have you considered where to buy your next car? When you have damaged credit, private party car loans are generally not available. Odds are you’ll have to make your purchase at a local dealership. Good thing there are dealers that cater to less-than-perfect credit. Unlike buy here pay here dealers, these types of dealers offer:

  • More competitive rates of interest.
  • Smaller down payments.
  • Both used and new vehicles.

You may not meet the criteria to finance the more expensive cars in the showroom. Ordinarily, when you have below-average credit, you can borrow six to eight times the amount you earn on a monthly basis. For the Council Bluffs resident who makes $4,270 a month, this is $25,620 to $34,160. With that being said, only 10% of your income ($427, in this example) should be earmarked for your car payment, which will probably limit how much you can spend. Apply online to speak with a finance expert about your options.

Verification Requirements for Your Council Bluffs Car Loan

As a rule, the higher your credit score is, the less paperwork you’ll have to provide. There aren’t very many lenders willing to finance an auto loan for someone who doesn’t even have their license. Lenders usually want to see at least two recently dated paystubs, but more may be required based on your credit score. Insurance verification is an additional prerequisite. You’ll be required to have collision and comprehensive, not just liability, on this vehicle. A copy of your lease contract or a current electricity bill will confirm your address for lenders, so they know where the vehicle will be located.

More might be required, so make sure to double check what’s needed with your lender or dealer before going to select your new car or truck.

Buy Here Pay Here Car Lots in Council Bluffs, IA

Buy Here Pay Here Car Dealers in Council Bluffs IA
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Car lots in Council Bluffs that offer in-house financing have several things in common:

  • These dealerships finance car loans on location.
  • They do not pull your credit.
  • They want you to pay them 2-4 times per month, often at the lot.

If you have terrible credit, Council Bluffs in house financing car lots in many cases are the only real way to go. But the truth is, the cost of your car or truck will be higher as a result of exorbitant loan rates. As if that weren’t enough, it is unlikely that your credit score will improve since these dealers don’t work with the credit bureaus.

Which Cars Are Ideal For Council Bluffs Consumers

It really is easy to finance a more expensive car than you really ought to. Have a look at these scenarios, which indicate how much the Council Bluffs consumer ought to spend based on a monthly income of $4,270, a payment of $342, and a repayment term of 5 years.

Great Credit Okay Credit Subprime Credit
Payment $342 $342 $342
Loan Rate 3.50% 7.00% 11.00%
Years 5 5 5
Down Payment $4,694 $4,313 $3,928
Interest Paid $1,718 $3,245 $4,785
Total Paid $25,190 $24,809 $24,424
Vehicle Price $23,472 $21,564 $19,639

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