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Auto Loans in Findlay (OH)

For individuals who have poor credit, finding a car lot in Findlay who will finance them is the biggest hurdle to shopping for a new car or truck. With many Ohio auto loan companies rejecting people that have poor credit, it could take quite a while to find a loan provider without expert assistance. The good news is, we are here to lend a hand.

When you apply, we can put you in touch with a finance company in Findlay who wants to finance you, in spite of your credit.

Bad Credit Car Dealers in Findlay, Ohio

If you are trying to find a dealer in Findlay that funds loans for consumers who’ve got bad credit, welcome to Motive Auto Finance: we can help. Unlike buy here pay here dealers, these dealerships offer:

  • Interest rates that are reasonable.
  • Down payments that won’t leave you broke.
  • New vehicles, instead of only pre-owned ones.

You may not meet the criteria to finance the more expensive cars in the showroom. Here’s an example based on the average per-person income in Findlay, $1,824 per month:

Credit Score Income Factor Loan
700 10 $18,240
625 9 $16,416
575 8 $14,592
525 7 $12,768
300 6 $10,944

Don’t forget that this is just an estimation. You may not be qualified to borrow this much, based on your existing debts and credit record.

A vehicle finance expert will determine how much you’re qualified to borrow, and at what APR. If you’d like to talk to one, make sure you submit your application.

Findlay Auto Finance Rates: How to Reduce Them

Locking down the best interest rate you can is very important. Let’s look at an example: an auto loan of $16,416, financed for 5 years, would cost you widely differing amounts depending on your rate of interest:

Amount Rate of Interest Total Interest
$16,416 3.50% APR $1,502
$16,416 7.00% APR $3,087
$16,416 11.00% APR $4,999

So as to keep your interest rate affordable, you’ll want to review your credit report for any errors. If you find one, send a letter to the credit bureau in question. This is a fast and easy way to boost your credit score. Secondly, lenders check both your income and existing debts. If you pay off any existing debts, you will be lowering your debt-to-income ratio (DTI), which will result a cheaper rate of interest. You should opt for the shortest loan you can. Your monthly payments will be greater, but lenders charge less for shorter loans. As a final point, how much of a down payment have you got? An increased down payment will result in a less expensive rate of interest.

Buy Here Pay Here Car Lots in Findlay, OH

Buy here pay here car dealers usually deal with people with serious credit problems such as repossession and bankruptcy. Yes, they don’t require credit checks, which means bad credit probably won’t be a hurdle, but you will really pay for this down the road. Regrettably, you should be prepared for exorbitant annual percentage rates, high down payments, and vehicles that cost too much given their condition. Is elevating your credit important to you? If so, you should contact a vehicle finance professional through us, seeing as BHPH dealers can’t help you raise your credit.

Rules of Thumb for Buying a Car in Findlay

When it comes to your monthly car payment, it’s best not to spend more than 10% of what you make on a monthly basis. Moreover, to reduce interest and equity issues, go with a 60-month loan at most. This will result in a car costing around 50% of what you get paid on a yearly basis (pre-tax). In Findlay, where the average income is $21,884 per annum, this would be $10,944 to devote to a vehicle. A new car or truck is something that depreciates quickly, so you’ll want to invest as little as you can and still bring home a car that fits your family’s needs.

Used Cars in Findlay for Sale


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