Credit score is critical when it comes to financing a car, and acceptance rates are pretty low. We are aware of the problems that Maine consumers with bad credit face. To get going, simply send us your application. We will place your application with a dealer or lending company ready to pre-approve you for an auto loan, bad credit okay.
Maine Car Dealerships for Bad Credit
You should try to avoid buy here pay here dealers, choosing instead to deal with big franchise dealerships that arrange loans through banks and credit unions. Unlike buy here pay here dealers, these dealerships offer:
- Interest rates that are manageable.
- Down payments that won’t leave you broke.
- Vehicles that are more reliable.
The types of vehicles you can buy will be decided by your income and credit history. We suggest you choose a reasonably priced, efficient vehicle with payments that amount to just 10% of your income. If you get paid $2,927 a month, this equals out to a payment of $293.
A vehicle finance professional can help you determine how much you’re qualified to borrow, and at what APR. Go here to submit your application.
New Versus Used Cars
Used or new? It’s your choice. Brand new cars and trucks come with much lower rates of interest. However, they cost much more than their pre-owned brethren, and additionally you’ll be charged a larger down payment.
|New Car||Pre-owned Car|
|Age||New||3 Years Old|
|Duration||60 months||48 months|
|Payment Per Month||$442||$319|
In House Financing Car Lots in ME
Have you thought of getting an auto loan at a buy here pay here dealer in Maine? These types of Maine bad credit car dealers provide auto loans on-site, often without a credit check. Because they don’t depend on a bank or credit union to approve the credit-seekers, they can assist an extensive range of applicants. Countless consumers with really low credit assume that an in house financing car lot is the only real establishment that will finance them, even though Maine bad credit auto loans from banks and credit unions typically involve lower rates.
Cars in Maine That Suit Your Budget
Wouldn’t you like to know how much you ought to commit to a car? The following chart displays how much car the average Maine consumer can afford based on an income of $2,927 each month, a car payment that amounts to 8% of this income, and a repayment term of 60 months.
|Excellent Credit||Okay Credit||Bad Credit|