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Auto Loans in Portland (OR)

It is smart of you to search for financing before heading to the dealer, because it eliminates almost all of the typical obstacles from the car-shopping experience. Our company serves shoppers in Portland every day, helping them locate a lender or dealer willing to accept their credit. We place your application with a lending expert who will work tirelessly to get you financed.

Bad Credit Car Dealerships in Portland, OR

When you have poor credit, the large majority of banks won’t accept your finance application. Thank goodness, there are dealers and finance companies that work with credit-challenged consumers. Compared with a buy here pay here dealer, such dealers provide:

  • Less owed on the day of purchase, in cash or trade equity.
  • Lower APRs.
  • Less chance of predatory practices.
  • Ability to increase your credit score.

The dealer will evaluate your credit and income to determine the specific models you are eligible to finance. In order to steer clear of loan default or repossession, buy a vehicle that won’t stretch your budget, with a payment that equates to 10% of your income or less. If you earn $1,969 per month, this is a payment of $197. Submit your application to talk to a vehicle lending professional about how much you can borrow.

New or Used Car

Have you considered whether you want to buy a new or used vehicle? A new car is worth only 80% of its retail value after the first 12 months of ownership, and 50% after 36 months. That’s the reason why you can often get more car when you buy used.

New Car Used Car 1 Used Car 2 Used Car 3
Age New 1 year old 2 years old 3 years old
Price $19,690 $14,768 $11,814 $9,845
Down Payment $3,938 $1,477 $1,181 $985
Interest Rate 5.00% 7.50% 7.50% 7.50%
Duration 60 months 48 months 48 months 48 months
Payment Amount $297.26 $321.36 $257.08 $214.24
Interest Paid $2,084 $2,134 $1,707 $1,423
Total Outlay $21,774 $16,902 $13,521 $11,268

Buy Here Pay Here Car Lots in Portland, Oregon

Buy here pay here car dealers customarily finance people with truly serious credit problems like:

  • Filing bankruptcy
  • Property Foreclosure
  • Involuntary Repossession
  • IRS Liens

These dealers will approve virtually anyone, no matter their credit, but there are downsides. Alas, you can expect exorbitant loan rates, big down payments, and cars and trucks that cost too much given their mileage and condition. If raising your credit score is important to you, you should submit your application through us, as buy here pay here dealers won’t help you in restoring your credit.

Will This Improve Your Credit Rating?

Ordinarily respected banks and lenders work with the three main credit bureaus–Transunion, Equifax, and Experian–which provides you the opportunity to rebuild your credit. By making payments as agreed, you demonstrate to banks and lenders that you are someone they can trust with their money. Of course, this is a double-edge sword: you can worsen your credit if you fall behind on your payments. It is difficult to say precisely how much your score will increase, but experts have noted a 5-10% increase monthly.

Used Cars in Portland for Sale

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