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Auto Loans in Gretna (LA)

Bad credit can make it more challenging to get behind the wheel of a new car, but we can help you get approved. No one understands the challenges of buying a car with poor credit like us.

Listed here are the keys to our program

  • Sophisticated Data-Matching Platform
  • Vast Lender Network
  • In-Depth Borrower Education

Auto Loan Gretna Louisiana

Bad Credit Car Dealers in Gretna, LA

Car dealers that have sub-prime finance departments are often known as bad credit car dealers. In any non-prime financing scenario, expect:

  • Rates of interest that are more costly.
  • Down payments that are more substantial.
  • Payment periods that are shorter.

On the other hand, it’s far better than not being able to obtain a car, and if you make your payments each month, you can boost your credit score by the time your vehicle is paid off. At Motive Auto Finance, we work with many of these dealerships, and they want to get you in the driver’s seat of the car you deserve. Just go here to submit your application.

Choosing a Vehicle: New vs Used

New and used vehicles each offer unique benefits. You’re able to finance new cars at more affordable interest rates, but you wind up spending a lot more in the end.

New Car Used Car
Years Old 0 3
Price $19,330 $9,665
Down Payment $3,866 $967
APR 5.00% 7.50%
Months 60 48
Payment $291.82 $210.32
Finance Charge $2,045 $1,397
Total Outlay $21,375 $11,062

Buy Here Pay Here Dealers in Gretna, LA

Dealerships in Gretna that offer in house financing differ from traditional dealerships in certain significant ways:

  • These dealerships finance car loans without 3rd party funding.
  • They don’t pull your credit.
  • They require weekly or biweekly payments, often at the lot.

Sometimes people with really terrible credit think that an in house financing car lot is the only real establishment that will approve their credit, even though the cost of your vehicle will be higher due to excessively high annual percentage rates, plus it is unlikely that your FICO rating will get better as you pay down the borrowed funds. That’s because these dealers don’t work with Equifax, Experian, and Transunion.

Budgeting Recommendations for Gretna Car-Shoppers

Your car payment, where to begin? Find out what’s 10% of your monthly income, which is the maximum you should allocate for this. To avoid negative equity and expensive finance fees, choose a repayment term of no longer than 60 months. This translates into a vehicle costing approximately half of your annual income. For Gretna residents with incomes of $23,192 a year, the average, this is $11,598. By and large, the less you’re able to spend on a dependable vehicle, the better.

New and Used Cars in Gretna for Sale

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