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Auto Loans in Iowa City (IA)

Are you worried about financing a car because of bad credit? We’d be happy to help. We have access to a vast network of lenders and dealers, and we have some of the highest rates of approval in the industry. We will match you with a finance expert who can help you obtain the car loan required for the car you want.

Auto Loans Iowa City IA

Iowa City Car Dealers That Accept Bad Credit

If you are trying to find a dealer that offers car loans for low credit scores, welcome to Motive Auto Finance: we’re happy to help you find the dealer you need. Contrary to buy here pay here dealers, these types of dealers offer:

  • Realistic interest rates.
  • Smaller down payments.
  • New and used vehicles.

The particular cars and trucks you can buy will be based on your income and credit. As a way to forestall missed payments or repossession, buy a vehicle that won’t stretch your budget, with a payment that’s equivalent to 10% of your income–any higher, and you’re sure to have issues. If you earn $1,825 per month, this would be a payment of $183.

Apply online to find out your options.

Can You Finance a Car with No Money Down?

Do you have a down payment saved for your new car? Quite often, one is required. Banks and lenders prefer that you provide money down, since doing so will lower risk built into the loan, affording you a decreased rate of interest and better terms.

Although we might able to help you get a car loan in Iowa City with no money down, we usually encourage down payments.

Iowa City Buy Here Pay Here Dealers

The buy here pay here industry keeps growing, mainly because so many consumers’ credit scores suffered on account of the housing market and slow economy. Such dealerships provide car loans directly, whereas the vast majority of dealerships work with banks and credit unions, and they regard your income as a form of credit.

Problems with sort of financing include excessively high interest rates and down payments, along with older vehicles with ignition kill-switches to aid in repossession Is boosting your credit a concern for you? If so, you are better off applying through us, seeing as buy here pay here dealers won’t aid you in rebuilding your credit.

Which Cars Are Best For Iowa City Residents

It really is easy to purchase a more expensive car than you really should. Not more than 8% of your monthly income ought to be spent on this new payment. For a consumer making $1,825 per month, the Iowa City average, this would be $146.

Excellent Credit Fair Credit Bad Credit
Monthly Installment $146 $146 $146
Rate 3.50% 7.00% 11.00%
Term Length 5 Years 5 Years 5 Years
Money Down $2,006 $1,843 $1,679
Interest Paid $734 $1,387 $2,045
Total Investment $10,766 $10,603 $10,439
Purchase Price $10,032 $9,217 $8,394

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