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Auto Loans in Columbus (MS)

Poor credit affects 1 in 4 Mississippi residents, and that number has been rising. We appreciate the complications that Columbus consumers with bad credit struggle with. Here are the keys to our system

  • Sophisticated Application Placement Program
  • Huge Network of Dealers
  • Comprehensive Client Instruction

Bad Credit Auto Loans Columbus Mississippi

Columbus Dealerships That Take Bad Credit

For those who are trying to find a dealer in Columbus that welcomes people who have bad credit, you’re in the right place. Compared with a buy here pay here dealer, such dealers typically offer:

  • Less owed upfront, in cash or trade equity.
  • Cheaper interest rates.
  • More favorable repayment terms.
  • Chance to re-establish your credit.

The dealer will assess your credit and income to determine the specific models you’ll be able to finance. In order to steer clear of loan delinquency or repossession, find a highly affordable, reliable vehicle with payments of just 10% of your income–any higher, and you may find it hard to make your payments each month. If you make $1,936 a month, this translates to a payment of $194.

An experienced finance specialist is standing by, waiting to determine how much you can borrow, and at what interest rate. To begin, simply apply online.

New Versus Pre-owned Vehicles

It gets asked time and time again: new or used car? A new vehicle drops in value 20% during the first 12 months of ownership, and 50% after three years. Because of this, you can often get more car by purchasing used.

New Car Pre-owned Car
Years Old 0 3
Price $19,360 $9,680
Down Payment $3,872 $968
Loan Rate 5.00% 7.50%
Length 5 years 4 years
Payment $292.28 $210.65
Interest Paid $2,049 $1,399
Total Spend $21,409 $11,079

Buy Here Pay Here Financing in Columbus, MS

If you’ve got experienced bankruptcy or debt settlement, a buy here pay here dealer could possibly appear to be a sensible approach. It’s true, they don’t look at your credit, meaning bad credit ought not be a hindrance, but you really pay for this in the end. You will see that higher-mileage vehicles are the only models offered, and these are not no money down cars. In most cases, the down payment is what the dealer had to pay for the vehicle in the first place, and you could end up paying thousands in interest through excessive rates. Is improving your credit a priority for you? If so, you are better off applying through us, since BHPH dealers can’t help you increase your credit.

Re-establishing Your Credit in Columbus

Want to rebuild your credit? Then stay clear of tote the note dealers. Our dealers and lenders can help you with your credit. To help your credit, make your payments on schedule, each and every time. Overdue payments, on the other hand, can reduce your credit score, and quick! More and more banks and lenders allow you to establish an automatic payment each month, so the funds are taken directly from your bank.

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