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Auto Loans in Plymouth (MA)

Shopping for a new or preowned car or truck? Like the majority of Plymouth consumers, it’s likely that you need a car loan. Our industry relationships are second to none, and we are experts in getting you financed by the dealer that can get you in the car you want. We place your application with a finance specialist who will work tirelessly to get you financed.

Auto Loans Plymouth MA

Bad Credit Car Dealerships in Plymouth, Massachusetts

Most traditional lenders like banks decline applications from individuals who have low credit scores. The good news is, there are dealerships and specialty lenders that accept credit-challenged borrowers. Compared with a BHPH dealer, such dealers provide lower rates and more favorable terms. The exact models you can buy will be decided by your monthly income and credit score. We recommend you find a low cost, reliable vehicle having payments amounting to 10% of your income–at the most. If you earn $911 monthly, this is a payment of $91.

A dedicated finance expert can help you determine how much you’re eligible to borrow, and at what APR. Just go here to submit your application.

Purchasing a Car in Plymouth with Zero Down Payment

A down payment is often a hassle, but for people who have bad credit, it’s often a requirement. Banks and lenders prefer that you provide a down payment, because it will lower risk inherent in the loan, meaning a lesser interest rate.

No down payment auto loans do exist, but it’s more common for them to trade in a used vehicle to fulfill any down payment standards.

Buy Here Pay Here Car Dealers in Plymouth, MA

Plymouth In House Financing

Often known as in house financing, your job is your credit, or we tote the note car lots, these businesses ordinarily have a few principal features:

  • These dealers offer car loans direct to the consumer.
  • They do not perform credit checks.
  • They require weekly or biweekly payments, often at the lot.

For folks who’ve got really bad credit, Plymouth buy here pay here car lots are often the only option. But the truth is, the interest rates are more expensive than you’d expect from a dealership that does indirect financing. Additionally, they don’t usually report payments to the credit bureaus. This means your FICO score isn’t likely to improve even if they pay off the loan as scheduled.

Getting the Ideally-Sized Loan

Wouldn’t you like to know what kind of car is in your budget? It’s smart to spend, at most, approximately 8% of your monthly earnings on your loan payment. For a person living in Plymouth making $911 per month, the city average, this would be $73.

Excellent Credit Fair Credit Poor Credit
Car Payment $73 $73 $73
Loan Rate 3.50% 7.00% 11.00%
Money Down $1,002 $920 $838
Borrowed Funds $4,006 $3,681 $3,352
Total Interest $367 $692 $1,021
Total Investment $5,374 $5,293 $5,211
Purchase Price $5,008 $4,601 $4,190

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