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Auto Loans in Chapel Hill (NC)

Financing a car was easier before the credit crunch, but not any longer. It’s crucial to work with a dealer or lender that has your best interests in mind. We have built an unrivaled network of lenders and dealers that have the ability to finance people who’ve got all types of credit scores, even those who have:

  • Poor credit.
  • No credit.
  • Zero down payment.

All you need to do is complete your loan application. We will connect you with a finance expert from a dealer or lender local to you.

Car Loans Chapel Hill NC

Chapel Hill Car Dealers for Bad Credit

Don’t let credit stand in your way when it comes to your new car. We can pair you with dealers all across North Carolina that want to get you the loan you need, regardless of your credit score. As with all subprime loans, expect steeper interest rates, larger down payments, and shorter lending terms. With that being said, the rates and terms are more favorable than you would be offered at a used lot that does in-house financing with no credit checks. We have many such dealers in our network, and when you submit your application, we work hard to connect you with one who wants to approve your credit.

Can You Get Financed with No Down Payment?

A down payment, as you might know, is the amount you pay in advance on the day you sign for any financed vehicle. When you finance a car, you want to owe less than the vehicle’s value. When the your car or truck is worth less than what’s owed on it, then you’re upside-down on the loan. A down payment gives you a head start against depreciation, which is especially important if you’ve been asked to pay a high rate of interest. The good news is, the money from trading in your existing car or truck can be put toward your down payment, enabling you to finance a car without having to put down any money out of pocket.

Buy Here Pay Here Car Lots in Chapel Hill, NC

Have you considered getting financed at a buy here pay here dealer in Chapel Hill? Such Chapel Hill bad credit dealerships provide auto loans directly, often without checking the applicant’s credit. Given that they don’t depend on a bank or finance company to approve the applicants, they can work with a larger array of consumers. Often consumers with really bad credit feel like a buy here pay here car lot is the only real establishment that will finance them, even though there are a few downsides:

  • Elevated Financing Fees
  • High Down Payments
  • Inability to Improve Credit Score

Getting the Ideally-Sized Loan

Wouldn’t you like to know how much you ought to pay for a car? Take a look at the examples below, demonstrating how much the Chapel Hill consumer ought to spend based on an income of $1,662 each month, a car payment that amounts to 8% of this income, and a term length of 5 years.

Exceptional Credit Fair Credit Poor Credit
Income Per Month $1,662 $1,662 $1,662
Monthly Payment $133 $133 $133
APR 3.50% 7.00% 11.00%
Term 5 Years 5 Years 5 Years
Down Payment $1,827 $1,679 $1,529
Total Interest $669 $1,263 $1,862
Price with Interest $9,805 $9,656 $9,506
Purchase Price $9,136 $8,393 $7,644

Used Cars from Chapel Hill Dealers

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