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Auto Loans in Hendersonville (NC)

Increasingly, buyers in Hendersonville are getting their financing approved before going to the car lot, as the benefits are substantial:

  • Less time spent on the car lot.
  • Possibility of a lower interest rate.
  • Improved bargaining power.

We have access to an extensive network of lenders and dealers, and we specialize in connecting you with the lender who is most likely to fit your needs. We place your application with a credit professional whose mission is to get you approved for the car you want.

Car Loan Hendersonville NC

Hendersonville Car Dealers That Accept Bad Credit

When you’ve got below-average credit, dealer financing is probably the way to go, because most all the banks in Hendersonville won’t be able to do business with you. There are dealers, however, with finance specialists ready and willing to help you secure the funds you need. Since you’re a higher-risk borrower, expect elevated rates of interest and higher down payments, plus shorter lending terms. On the plus side, it’s much better than being turned down by a bank, and these dealers can help you improve your credit, potentially enabling you to refinance your vehicle at a cheaper rate. There are many of these dealerships in our network, and you can get pre-approved by submitting your application.

Zero Down Car Loans in Hendersonville

A down payment might be a headache, but if you’ve got credit problems, it’s sometimes required. A down payment reduces investment risk, simply because the consumer finances a lesser percentage of the vehicle’s worth. For you, the consumer, a down payment helps you avert negative equity.

Fortunately, the money from trading in your used vehicle can usually be used toward your down payment, enabling you to finance a car without putting anything down, at least in terms of cash.

Buy Here Pay Here Car Lots in Hendersonville, NC

When you have substantial credit problems on account of issues like bankruptcy or foreclosure, buy here pay here financing could possibly seem like a good plan. A lot of dealer financing is outsourced, as car dealers go through banks and lenders with whom they have relationships to supply the loans, but buy here pay here dealers provide loans themselves. Problems include:

  • Exorbitant Rates of Interest
  • Massive Down Payments
  • Overpriced Vehicles
  • Aggressive Repossession Practices

If that weren’t enough, these dealerships rarely report to the credit agencies, and that means you could make every single payment punctually with no lift in your credit score.

Can This Supercharge Your Credit Score?

On top of supplying you with the funds you’ll need, a car loan has the ability to help you improve your credit score. Be that as it may, this impact isn’t instant. You have to pay off the loan as agreed, making every month’s payment on the dot. You really can’t get behind on your payments, since this will have the opposite consequence: a weakened FICO score. Of course, the benefits of an increased score are massive:

  • More affordable loan and insurance rates.
  • Less need for large down payments.
  • Minimized risk of credit rejections in the future.

New and Used Cars in Hendersonville for Sale

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