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Auto Loans in Louisville (KY)

Late payments and past due bills can really hurt your credit ratings. The good thing is, we have partnered with a huge selection of bad credit dealerships in Louisville and nationwide. The only thing you have to do is complete your credit request, and we will connect you to a car dealership or loan company willing to pre-approve you for a car loan with bad credit.

Louisville Car Dealers for Bad Credit

If you’ve got low credit scores, dealer financing is generally the only option you have, because most all the banks in your area will be unwilling to lend to you. There are dealers, however, who have finance specialists on the lot, ready to work with you. Generally, these dealers offer:

  • Better rates of interest.
  • Realistic down payments.
  • New and pre-owned vehicles.

You may not have the credit and income to finance the newest, hottest car in the showroom. Typically, when you’ve got less-than-perfect credit, the maximum amount you can borrow is six to eight times your monthly income. For the Louisville resident making $1,562 per month, this is $9,372 to $12,496. However, it’s better to borrow less than you can, confining your monthly payment to 10% of your income–$156, in this case.

Submit an application to find out how much you can borrow.

Is a Brand New Vehicle the Right Choice?

Both used and new vehicles can be financed through our service. Brand new cars and trucks have much lower rates of interest. Then again, they cost far more than their preowned counterparts, and the down payments they require are considerably bigger.

New Car Used Car 1 Used Car 2 Used Car 3
Years Old 0 1 2 3
Price $15,620 $11,715 $9,372 $7,810
Down Payment $3,124 $1,172 $937 $781
Loan Rate 5.00% 7.50% 7.50% 7.50%
Length 60 months 48 months 48 months 48 months
Monthly Payment $235.81 $254.93 $203.94 $169.95
Total Interest $1,653 $1,693 $1,355 $1,129
Total Outlay $17,273 $13,408 $10,727 $8,939

Buy Here Pay Here (BHPH) Car Lots in Louisville, KY

Have you thought of getting approved through a buy here pay here dealership in Louisville? Such Louisville bad credit car lots offer financing on site, usually without checking the consumer’s credit. Because they don’t rely on a bank or finance company to approve the loan-seekers, they can support a larger range of shoppers. Often consumers with really terrible credit feel that an in house financing car lot is the only real establishment that will be willing to approve their credit, despite the fact that there are quite a few negatives:

  • Excessive Rates Of Interest
  • Large Down Payments
  • Lack of Ability to Improve Credit Score

Credit Considerations for Louisville Residents

Not only does an auto loan supply you with the money necessary to purchase your car, it can help you boost your credit score. Rises in credit score are never instantaneous, but after 6-8 months of on time payments, your FICO score should begin to rise.

Remember that credit score increases are gradual, building with time. Of course, the benefits of an improved score are monumental, including more affordable interest rates and insurance rates, and even much lower down payments.

Used Cars for Sale in Louisville


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