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Auto Loans in Stillwater (OK)

In Oklahoma, taking out an auto loan is a lot more challenging than it used to be, because of the nation’s economic climate. We are aware of the difficulties that Stillwater consumers face when they’ve got bad credit. Here’s how we empower our applicants to rise above their bad credit and obtain car loan they need:

3 Easy Steps
  • Step 1: Our online application takes under one minute to submit.
  • Step 2: We leverage scores of lenders and dealerships to secure your pre-approval.
  • Step 3: Most consumers get approved the same day they apply.

Bad Credit Car Dealerships in Stillwater, OK

Car dealers that have sub-prime finance offices are sometimes referred to as bad credit car dealers. Whenever you have less-than-perfect credit, there are certain things to be expected:

  • Interest rates that are higher.
  • Down payments that are more substantial.
  • Loan terms that are shorter.

On the other hand, the rates and terms are much better than you would be given at a buy here pay here lot. At Motive Auto Finance, we work with many of these dealerships, and when you submit your application, we can pair you with one who wants to put you in the driver’s seat.

New or Used: It’s Your Choice

New and used vehicles each have their own merits. You can finance new cars at lower rates of interest, but you pay a good deal more in terms of purchase price and down payment.

New Car Used Car
Years Old 0 3
Price $9,350 $4,675
Down Payment $1,870 $468
Interest Rate 5.00% 7.50%
Duration 5 years 4 years
Payment $141.16 $101.73
Interest Paid $989 $676
Total Amount Paid $10,339 $5,351

Stillwater Buy Here Pay Here Dealerships

Many people in Stillwater and across Oklahoma head for buy here pay here car lots, thinking that they will only be able to get approved with no credit check. Not true. Nearly all dealer financing is sourced elsewhere, as dealers go through a network of lenders to deliver the loans, but BHPH dealers handle everything on site. They act as both lender and dealer That’s how we get the name buy here pay here. Cons include:

  • Exorbitant Interest
  • Outrageous Down Payments
  • Overpriced Vehicles
  • Ignition Kill-Switches

This is why these dealers don’t have the best reputation. Let us connect you with a reputable dealer who can get you in the driver’s seat of an excellent car, even if you’ve experienced bankruptcy.

Recommendations for Buying a Car in Stillwater

If you want a car that suits your finances, your car payment should only account for 8-10% of what you make each month. Furthermore, finance your vehicle for not more than 5 years. With this payment and finance term, you will be buying a car or truck that costs roughly 50% of what you earn annually. For instance, if you make $11,225 per annum, the average for residents of Stillwater, you would buy a car that costs $5,610. Basically, the less you can invest while still getting a solid car, the better.

Used Cars in Stillwater


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