Financing a car with a bad credit rating was once a real headache – until we emerged as an industry-leader. With such a multitude of loan providers declining people because of poor credit, it could take longer than you’d like to find a lending company all on your own. The good news is, we’ve developed an advanced platform for auto finance approval developed with subprime credit as a priority. Here’s how we empower our consumers to overcome their credit scores and secure the loan they need:
- Step 1: You apply online, which is quick, secure, and easy to use.
- Step 2: We leverage hundreds of subprime lenders to get you approved.
- Step 3: Most consumers get approved in under 24 hours.
Hamilton Car Dealerships for Bad Credit
Have you considered where you could buy your new car? If you’ve got poor credit, private party auto loans are generally out of the question. Instead you’ll need to buy from a local Hamilton dealership. Thankfully there are dealers that specialize in bad credit. Since this is a high-risk loan, there are certain things to be expected more expensive rates of interest and larger down payments, as well as smaller loans. On the plus side, don’t forget that you’re getting not just a car, but also the opportunity to improve your credit score. At Motive Auto Finance, we work with many such dealerships, and they want to get you the car you deserve. Go here to submit your application.
Buying a Car in Hamilton with Zero Down Payment
A down payment, as you might know, is the amount you owe initially for your vehicle. A down payment offers several benefits:
- Less risk of negative equity.
- Loan size is reduced.
- Reduced risk for the lender, which means a lower APR.
It may be possible to get an auto loan in Hamilton with no cash down, particularly if you have a pre-owned car or truck to trade in. Apply online to speak to a qualified lending specialist for more details.
Buy Here Pay Here (BHPH) Car Lots in Hamilton, OH
Have you thought about getting your vehicle through a buy here pay here car lot in Hamilton? These kinds of Hamilton in house financing car dealers don’t rely on banks or third-party lenders for financing, so they can support a wider selection of applicants.
Many folks with really terrible credit think that a buy here pay here car lot is the only real place that will take their credit, even though the cost of your car or truck will be inflated on account of exorbitant interest charges. As if that weren’t enough, it’s less likely that your credit score will improve since these dealers rarely work with Equifax, Experian, and Transunion.
Will This Improve Your FICO Rating?
If you need one more reason to finance a car, you have it: not only does a car loan help you purchase the car you need, it can increase your credit score. Credit improvement is gradual, but after 6-8 months of on time payments, you should notice your credit score begin going up. And as you can imagine, this is a two-edge sword: you can magnify your credit problems if you get behind on your payments. It is difficult to know just how much your score will increase, but some credit gurus have noted a 5-10% increase monthly.