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Auto Loans in Lake Charles (LA)

A bad credit score can make it tricky to get a car loan, but it certainly isn’t impossible. It’s important to work with a lending company that has your best interests at heart. We’ve built a vast network of dealers and lenders who want to finance you, even if your credit score is weak. Your auto finance manager can help you:

  • Compare loans.
  • Go over loan terms and conditions.
  • Select a new or used car.

Feel free to apply online.

Auto Loan Lake Charles LA

Bad Credit Car Dealers in Lake Charles, Louisiana

When you’ve got less-than-perfect credit, most banks won’t accept your loan application. However, there are dealerships and finance companies that do lend to the sub-prime market. As with any subprime loan, expect:

  • Interest rates that are more expensive.
  • Down payments that are larger.
  • Loan repayment periods that are shorter.

On the plus side, the experience is better than that of a buy here pay here dealer, and your vehicle will almost certainly cost you less in both upfront costs and interest. We have a great number of dealerships in our network, and they want to get you the car you need. Just go here to apply online.

New or Pre-owned: Decided Yet?

Have you decided whether you’re going to buy a new or pre-owned vehicle? It’s an important decision. A brand new vehicle drops 20% in value during the first year of ownership, and 50% after 36 months. That’s why you can often get more car by buying used.

New Car Used Car 1 Used Car 2 Used Car 3
Years Old 0 1 2 3
Price tag $13,900 $10,425 $8,340 $6,950
Down Payment $2,780 $1,043 $834 $695
Loan Rate 5.00% 7.50% 7.50% 7.50%
Years 5 4 4 4
Payment Amount $209.85 $226.86 $181.49 $151.24
Interest Paid $1,471 $1,507 $1,205 $1,004
Total Outlay $15,371 $11,932 $9,545 $7,954

Buy Here Pay Here Car Dealers in Lake Charles, LA

Dealerships in Lake Charles that advertise buy here pay here financing have certain things in common:

  • These dealers approve auto loans on site.
  • They do not check your credit.
  • They require weekly or biweekly payments, often at the lot.

Sometimes men and women with really low credit feel like a buy here pay here car lot is the only place that will be willing to take their credit. But bear in mind, the interest rates are much higher than a loan from the bank. Furthermore they seldom report payments to the credit reporting agencies, meaning the person’s credit score won’t improve as a result of the loan.

Rules of Thumb for Buying a Car in Lake Charles

Your car payment, how much should you spend? Determine what’s 10% of your monthly income, which is the maximum amount you should spend. Also, opt for a 5-year loan at most. This equals a car costing roughly half of your yearly income. If you earn $16,680 annually, the average in Lake Charles, you would buy a car that costs $8,340. Automobiles drop in value rapidly, so you’ll want to fork out no more than you have to, in order to obtain a car that suits your family’s needs.

Used Cars in Lake Charles, LA


Zipcode Make Model Minimum Price Maximum Price Condition
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