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Auto Loans in Lawton (OK)

More and more car-shoppers in Lawton are getting their loan approved before heading to the dealer lot, as the benefits are myriad:

  • A shorter time spent at the dealership.
  • Potential for a more competitive rate of interest.
  • Scheduled dealer appointment.

Our team helps consumers in Lawton regularly who would like to locate a dealer or lender who can accept them based on their income, credit, and down payment. Experience the convenience of working with a devoted lending expert who can address the questions you have and set up your loan.

Car Loans Lawton OK

Lawton Car Dealerships for Bad Credit

Dealerships with sub-prime finance managers are, in many cases, known as bad credit car dealers. In any bad credit financing scenario, expect increased interest rates and larger down payments, as well as smaller loans. Having said that, the rates and terms are much more attractive than you would get at one of Lawton’s buy here pay here dealers. At Motive Auto Finance, we work with many such dealerships, and they want to get you the car you want. Just go here to submit your application.

Have You Got a Down Payment?

It’s often necessary to make a down payment on the vehicle you want to finance–this is especially the case if you have below-average credit. Down payments for pre-owned cars are considerably lower than those for new cars, which might affect whether you go new or used. Take a look at the chart we’ve included.

New Car 1 Year Old Car 2 Year Old Car 3 Year Old Car
Lost Value 0% 25% 40% 50%
Price $15,980 $11,985 $9,588 $7,990
Percentage Down 20% 10% 10% 10%
Money Down $3,196 $1,199 $959 $799

Fortunately, your trade-in vehicle can be put toward your down payment. In effect, this means you’ll be able to, finance a car without a down payment.

Buy Here Pay Here Dealers in Lawton, OK

Dealerships in Lawton that approve car loans in-house have several common characteristics. They…

  1. Grant auto loans on-site.
  2. Rarely check your credit.
  3. Want weekly or twice-monthly payments, often in person.

For people with really bad credit, Lawton in house financing car lots in many cases are the only real way to go, despite the fact that Oklahoma subprime car loans from credit unions and banks typically come with less expensive rates.

Rejuvenating Your Credit in Lawton

If your credit isn’t ideal, you may be concerned that financing a car will worsen it. The truth is, financing a car just might help you rebuild your credit. Financing a car:

  • Gives you the chance to revitalize your payment history (35% of your score).
  • Multiplies the types of credit you’ve utilized (10% of your score).

At the same time, you could possibly harm your credit by making payments late or simply missing them entirely. In order to ensure you don’t miss a payment, consider electronic options such as automated deductions.

Find a Car from a Dealership in Lawton

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