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Auto Loans in Baltimore (MD)

Bad credit makes it harder to buy a new car, but we can help. Nobody appreciates the frustration of getting a car financed with bad credit like we do.

To get rolling, all you’ve got to do is complete this simple form. We will place your application with an auto lending company or auto dealer specialist who’ll work hard to find you the ideal car loan.

Bad Credit Car Dealerships in Baltimore, Maryland

You should stay clear of buy here pay here dealers, choosing instead to work with bigger, better-respected dealerships that serve people with bad credit, and at that same time provide a far better lending experience. In most cases, these larger dealers offer:

  • More competitive rates of interest.
  • Acceptable down payments.
  • New and used vehicles.

The dealer will evaluate your credit and income to establish which cars you’ll be able to finance. It’s best to buy a vehicle that won’t stretch your budget, with a payment of about 10% of your income or less. For people earning $1,746 on a monthly basis, the average among Baltimore residents, this translates to a payment of $175.

A dedicated finance professional is standing by, waiting to determine how much you’re eligible to borrow, and at what rate. To get going, all you have to do is apply online.

No Down Payment Car Loans in Baltimore?

Are you hoping to finance your new car with no money down? Offering a down payment minimizes the risk of the loan, because the lender is better able to recoup their losses if they have to repossess the vehicle. For you, the consumer, a down payment helps you steer clear of negative equity.

We may be able to get you a car loan without having a down payment, but typically a down payment is a good idea.

Baltimore Buy Here Pay Here Dealers

For people who have substantial credit problems on account of issues like bankruptcy or debt settlement, a buy here pay here dealer may seem like a good plan. These dealers will finance almost anybody, no matter their credit, but there are downsides.

Issues include:

  • Ridiculous Interest rates
  • Overpriced Down Payments
  • Steeply-Priced Vehicles
  • Invasive Repossession Practices

Is improving your credit a concern for you? Then you should contact a vehicle finance specialist through us, as buy here pay here car lots won’t aid you in boosting your credit.

Budgeting Recommendations for Baltimore Borrowers

It is wise to budget, at the maximum, 10% of your monthly income for the payment on the car you’ve financed. On top of this, it’s best not to get a loan for over 5 years. This will buy you a car or truck which costs approximately half of your yearly income. In Baltimore, where the average income is $20,951 per year, this would be $10,476 to commit to a vehicle. Cars don’t appreciate like most homes do, which means you should spend no more than you have to, in order to bring home a car that isn’t going to leave you broken-down on the side of the road.

Used Cars in Baltimore, MD for Sale

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