Here at Motive Auto Finance, we help people in Jersey City get the car loans they need, even with obstacles such as poor credit, lack of credit, and no money down. As opposed to waiting until you are in negotiations at the dealership, we allow you to apply for financing in advance. Ordinarily, we’re able to place car shoppers with the right lender or dealer within minutes of application.
Jersey City Dealerships That Take Bad Credit
Those car dealers that grant credit approval on site are known as your job is your credit, tote the note, or buy here pay here dealerships. You’ll have a better experience with dealership that grants bad credit car loans in Jersey City, New Jersey through a trusted lender. For the most part, these dealerships offer:
- More competitive rates of interest.
- More affordable down payments.
- New and pre-owned vehicles.
The dealer will look at your credit and income to establish the specific cars you’re qualified to finance. You’ll want to buy an economical, fuel-efficient vehicle having payments amounting to 10% of your income–no more. If you earn $1,671 per month, this translates to a payment of $167.
Submit your application to talk with a finance professional about how much you can borrow.
New or Pre-owned: Decided Yet?
New car? Used car? Both have their own advantages and disadvantages. It’s possible to finance a new car at a lower interest rate, but you spend significantly more in the long run.
|New Car||Pre-owned Car|
Jersey City Buy Here Pay Here Car Lots
Considering heading to a buy here pay here dealer to get approved? Normally, there are considerably better alternatives. These types of car lots grant credit lines on site, whereas most dealerships outsource this, and they typically don’t carry out credit checks. Problems with sort of financing include excessive interest charges that nose up to New Jersey’s legal limit, coupled with higher than average repossession rates Is elevating your credit a concern for you? If so, you are better off applying through us, seeing as BHPH dealerships can’t help you improve your credit.
Will Financing Re-establish Your Credit?
On top of giving you the funds needed to buy your new vehicle, an auto loan can actually help you get your credit back to normal. By making payments on a regular basis, you demonstrate to lenders your worthiness as a borrower. You really can’t fall behind on your payments, since this will have a dramatic consequence: a damaged FICO score. Don’t overlook the merits of an improved credit score. It will make your life much easier and more affordable, and you’ve just got to pay your lender on time on a monthly basis.