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Auto Loans in Fayetteville (NC)

Poor credit can keep you from getting behind the wheel of a new car, but getting approved is possible. We believe that a whole lot more people are worthy of auto financing, regardless of their credit. Here’s how the process works:

Bad Credit Approvals for North Carolina Residents
  1. You, the consumer, apply online.
  2. Our sophisticated approval software finds you a lender or dealer.
  3. Your car finance company calls or emails you to finalize your Fayetteville car credit deal.

Bad Credit Car Dealers in Fayetteville, NC

Car dealers dedicated to helping consumers with credit problems are usually referred to as bad credit dealerships. Contrary to buy here pay here dealers, these types of dealerships offer:

  • Interest rates that aren’t excessively high.
  • Down payments that are fair.
  • New vehicles, instead of only pre-owned ones.

Your income and credit dictates how much car you can get financed. Here is an example based on an income of $2,028 per month, the average in Fayetteville:

Credit Rating Income Factor Amount
Good Credit 10 $20,280
Mediocre Credit 9 $18,252
Subprime Credit 8 $16,224
Bad Credit 7 $14,196
Horrible Credit 6 $12,168

Don’t forget that this is strictly an estimate. You may not be able to finance this much, based on such factors as your credit card debt, mortgage or rent payment, and type of income.

An auto finance expert will determine how much you can borrow, and at what rate. To get going, all you have to do is apply online.

Documentation That’s Needed

To steer clear of any hurdles, don’t forget the requested documentation when you head to the dealer lot.

  • Driver’s License: This helps in avoiding fraudulent activity, and for the most part lenders will not approve borrowers who do not have a license.
  • Proof of Income: Paycheck stubs enable the lender to confirm the income you claimed in your application.
  • Proof of Insurance: Full coverage insurance is required on any vehicle purchase funded by a lender.
  • Proof of Residence: Your address is very important for lenders because it enables them to communicate with you by post, and it helps them in tracking down the vehicle if they have to repossess it.
  • Personal References: These are an additional layer of verification, and only required for people with a low credit score.

This might sound like a lot, but in reality, it’s really easy, and a finance professional can lead you step by step through process.

Fayetteville Buy Here Pay Here Car Lots

When you have severe credit problems stemming from bankruptcy or debt settlement, buy here pay here financing could possibly appear to be a good plan. Such dealers grant financing directly, whereas traditional dealers outsource this, and they are more focused on your job than your credit. Sadly, you should be prepared for high interest rates, expensive down payments, and older vehicles that are too expensive in light of their level of wear and tear. There is a reason why these retailers have a sullied reputation. Let us connect you with subprime finance specialist who can put you in the driver’s seat, even if your credit is awful.

What Car Should You Buy?

Wouldn’t you like to know what kind of car fits your budget? Check out these scenarios, which reveal how much the Fayetteville consumer ought to spend based on an income of $2,028 a month, a car payment that amounts to 8% of this income ($162), and a finance term of 60 months.

Exceptional Credit Okay Credit Subprime Credit
Income Per Month $2,028 $2,028 $2,028
Payment Amount $162 $162 $162
Rate 3.50% 7.00% 11.00%
Years 5 5 5
Money Down $2,230 $2,048 $1,865
Total Interest $816 $1,541 $2,272
Total with Interest $11,964 $11,783 $11,600
Vehicle Price $11,148 $10,242 $9,327

Used Cars for Sale in Fayetteville, NC

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