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Auto Loans in Ft Mitchell (KY)

Banks and auto lenders always pull your credit when deciding whether or not to lend you the funds you want, and a bad score could lead to:

  • Being unable to get approved.
  • High interest rate.

We help you find a lender who is receptive to your credit and finances. We’re proud to represent an unrivaled network of lenders and dealers that cater to a wide assortment of credit scores, not just the uppermost levels. Go on and complete your credit application, and we will pair you with a company in Ft Mitchell that can approve you for financing.

Ft Mitchell Dealerships That Work with Bad Credit

You’ll want to steer clear of buy here pay here dealerships, choosing instead to buy from more reputable dealerships that arrange loans through the traditional channels: banks, credit unions, and finance companies, which are monitored by state and federal regulators, unlike BHPH dealers. As with all subprime loans, you can expect steeper rates of interest and larger down payments, combined with more stringent lending conditions. Having said that, the experience is far superior to that of a buy here pay here dealer, and your vehicle will in all probability cost you less in the end. We have a great number of dealers in our network, and when you apply online, we work hard to pair you with one who wants to accept you for financing.

Your Choice of Vehicle: New versus Used

Used and new cars each have their own benefits. A brand new car drops 20% in value during the first year of ownership, and 50% after three years, meaning you can often get more for your money by purchasing used.

New Car Used Car
Years Old 0 3
Price $37,720 $18,860
Down Payment $7,544 $1,886
Loan Rate 5.00% 7.50%
Years 5 4
Payment Amount $569.46 $410.41
Finance Fees $3,992 $2,726
Total Outlay $41,712 $21,586

Your Job is Your Credit Dealerships in Ft Mitchell, KY

Car dealers in Ft Mitchell that advertise buy here pay here financing are distinct from regular dealerships in some significant ways. They…

  1. Finance auto loans directly.
  2. Rarely check your credit.
  3. Want you to make payments each week, often in person.

Countless folks with very bad credit feel like an in house financing car lot is the only real establishment that will finance them, even though the annual percentage rates are a lot higher than a bank loan. Aside from that, they seldom report payments to the credit agencies, meaning the person’s credit rating isn’t likely to improve as a result of the loan.

Cars in Ft Mitchell That Suit Your Budget

It is essential that you pick a vehicle that fits your budget. The following chart shows how much car the average Ft Mitchell consumer can afford based on a monthly income of $3,772, a payment of $302, and a finance term of 5 years–the longest term that’s advisable.

Good Credit Fair Credit Poor Credit
Monthly Installment $302 $302 $302
APR 3.50% 7.00% 11.00%
Down Payment $4,147 $3,810 $3,470
Interest Paid $1,518 $2,866 $4,227
Price with Interest $22,253 $21,915 $21,575
Purchase Price $20,735 $19,049 $17,349

New And Used Cars for Sale in Ft Mitchell

Zipcode Make Model Minimum Price Maximum Price Condition
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