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Auto Loans in New Bern (NC)

Financing a car became quite a bit harder following the credit crunch, but we help people in New Bern get approved on a daily basis. We help you find a dealer or lender who will not only accept your credit, but give you the chance to re-establish it. We’re very pleased to work with an unrivaled network of lenders and dealers who are granting auto loans to consumers with all sorts of credit histories.

Your auto finance agent will be right there to guide you, leading you from one step to the next through the car-financing process. Visit here to contact your finance specialist.

New Bern Car Dealerships That Finance Bad Credit

For anybody who is trying to find an auto dealer in New Bern that finances poor credit, you’re in luck. Since you’re a higher-risk borrower, you can expect:

  • Increased rates of interest.
  • Much bigger down payments required.
  • More modest loan amounts.

With that being said, it’s better than not being able to obtain a car, and if you make your payments each month, you can boost your credit score in the process of repaying your loan. There are many such dealerships in our network, and they want to get you the car you want. Just go here to submit your application.

Cheaper APR Rates for New Bern Drivers

APR rate is extremely important in determining the total amount you end up investing in your vehicle. Case in point: If you borrow $11,250 at 3.50% APR for 60 months, you’d wind up paying $1,029 in interest. At 7.00% APR, you’d pay $2,116, and at 11.00%, $3,426. That’s not it: your payment would increase from $205 to $245.

For starters, finding and disputing any errors on your credit report can improve your credit, and we all know that improved credit translates to better rates. Second of all, by paying off any existing debt you will reduce your debt-to-income ratio, helping you to obtain a better interest rate. Going with a shorter-term loan will also keep your rate lower, and it will also minimize negative equity. Finally, a larger down payment will reduce your loan-to-value ratio (LTV)–yet another rate-reducing factor.

In House Financing Dealers in New Bern, NC

Maybe you’ve thought of getting your vehicle through a buy here pay here dealership in New Bern? These types of New Bern bad credit car lots don’t rely on banks or investment companies to fund their loans, so they’re able to work with a diverse range of clientele.

For folks with terrible credit, New Bern in house financing car dealers are sometimes the only way to go. But bear in mind, the cost of your vehicle will be higher on account of outrageous loan rates. And if that weren’t enough, it is likely that your credit rating won’t go up since these car lots don’t report back to Equifax, Experian, and Transunion.

Credit Considerations for New Bern Consumers

Want to build up your credit? Then steer clear of BHPH dealers. The lenders and dealers in our network can help you re-establish your credit. Financing a car:

  • Provides you with the ability to improve your payment history (35% of your score).
  • Adds to the types of credit you’ve utilized (10% of your score).

You really can’t fall behind on your payments, since this can have the opposite consequence: a decreased credit score. Of course, the benefits of a better score are huge, including cheaper interest rates and insurance rates, as well as more opportunities for refinancing existing loans.

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