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Auto Loans in Saint Paul (MN)

Credit score is an important factor for companies financing car loans in Saint Paul. The annual percentage rates for bad credit auto loans in Saint Paul, Minnesota, are greatly elevated as compared with those for people with good credit, and approval rates aren’t as high as they once were. No one specializes in bad credit car loans like we do.

This is how we enable our applicants to rise above their credit ratings and secure financing they need:

  1. You, the consumer, submit an approval request.
  2. Our sophisticated matching program finds you an auto lender or dealer.
  3. Your lending company reaches out to complete the details of your automobile funding arrangement.

Bad Credit Car Dealerships Saint Paul Minnesota

Bad Credit Car Dealerships in Saint Paul, MN

Most banks don’t lend to individuals who have weak credit. However, there are dealerships and finance companies that do accept credit-challenged consumers. In any bad credit financing scenario, there are certain things to be expected more expensive interest rates and bigger down payments, along with smaller loans. With that being said, the rates and terms are a lot better than you would be offered at one of Saint Paul’s buy here pay here dealers. We work with many such dealerships, and you can get pre-approved by submitting your application.

Requisite Documentation for Saint Paul Residents

The documentation needed to finance a car varies from company to company, but there are a few things that you’ll need wherever you go. Lenders and dealers in Saint Paul and throughout Minnesota ordinarily require the following:

  • Personal Identification
  • Proof of Income
  • Proof of Insurance coverage
  • Proof of Residence
  • List of Three Personal References

These are standard requirements. However, this varies from lender to lender. Contact a lending specialist, site help you get the loan you need.

Buy Here Pay Here Car Lots in Saint Paul, MN

Buy here pay here dealers usually finance people who’ve got significant credit problems like:

  • Chapters 7 or 13
  • Foreclosure
  • Asset Repossession
  • Debt Settlement
  • IRS Liens
  • Collections
  • Legal Judgments
  • Charge-offs

These dealerships offer credit lines in-house, as opposed to traditional dealers which make use of banks and credit unions, and they will typically finance everyone. The fact is, you can expect inflated loan rates, large down payments, and cars and trucks that are too expensive for the kind of shape they’re in. There’s a good reason that these car dealers have a sullied reputation. Let us match you with dealer finance specialist who will work with you, even if your credit is really bad.

Managing the Cost for Your Vehicle

Make certain not to finance a car costs too much. The following table shows how much car the average Saint Paul consumer can afford based on an income of $2,762 per month, a payment of $221, and a finance term of 5 years–the maximum length recommended.

Great Credit Fair Credit Subprime Credit
Monthly Installment $221 $221 $221
APR 3.50% 7.00% 11.00%
Money Down $3,037 $2,790 $2,541
Loan Amount $12,146 $11,159 $10,163
Total Interest $1,111 $2,099 $3,095
Total with Interest $16,294 $16,047 $15,798
Sticker Price $15,183 $13,949 $12,703


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