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Auto Loans in Allentown (PA)

Your credit ratings are a crucial factor for auto firms financing auto loans in Allentown and countrywide. The interest rates associated with bad credit car dealers in Allentown are greatly elevated as compared to those for borrowers with excellent credit, and acceptance rates are often quite low. We know full well the difficulties that Allentown residents face when they have bad credit. All you need to do is complete this simple form. We will place your application with an auto dealer or lender willing to pre-approve you for financing.

Bad Credit Car Dealers in Allentown, Pennsylvania

You shouldn’t let credit stop you from buying your new car. We can pair you with dealers all across Pennsylvania that won’t deny you a car loan, just because your credit isn’t fantastic. Unlike buy here pay here dealers, these dealerships offer:

  • Interest rates that are manageable.
  • Down payments that are affordable.
  • New vehicles, not just pre-owned ones.

Your credit and income will determine which cars you can finance. With less-than-perfect credit, you can finance 6 to 8 times your monthly income. For residents of Allentown making $2,010 a month, this is $12,060 to $16,080. However, it’s better to borrow a smaller amount, reducing your monthly payment to only 10% of your income–$201, in this example.

An automobile lending professional can help you determine how much you’re qualified to borrow, and at what rate of interest. To get going, all you have to do is apply online.

Should You Buy a Pre-owned Vehicle?

A lot of consumers end up asking it: is a new or used vehicle best? New cars and trucks have much lower interest rates. Then again, they cost much more than their preowned peers, and the down payments required are much bigger.

New Car Used Car 1 Used Car 2 Used Car 3
Age New 1 year old 2 years old 3 years old
Price $20,100 $15,075 $12,060 $10,050
Down Payment $4,020 $1,508 $1,206 $1,005
APR 5.00% 7.50% 7.50% 7.50%
Months 60 48 48 48
Payment Amount $303.45 $328.05 $262.44 $218.70
Interest $2,127 $2,179 $1,743 $1,453
Total Outlay $22,227 $17,254 $13,803 $11,503

Buy Here Pay Here Car Lots in Allentown, PA

People in the buy here pay here industry hopes you assume that you don’t have any alternative but them. However, this typically isn’t the case. These dealerships approve auto loans on site, as opposed to traditional dealers which utilize one of their affiliated lenders, and they are more concerned with your job than your credit.

Regrettably, you should be prepared for excessive interest rates, massive down payments, and well-used vehicles that are steeply-priced. There’s a reason that these dealers don’t have a very good reputation. We want to place you in the hands of dealer finance specialist who can put you in the driver’s seat, not matter your credit.

Recommendations for Buying a Car in Allentown

Here’s a good rule of thumb: at the most, roughly 10% of your monthly income should be allocated to your loan payment. To counteract equity issues and excessively high finance fees, agree to a loan of only 5 years, at the maximum. With a 10% payment and 60 month term, you will be buying a car costing about half of what you make on an annual basis. For Allentown residents, having incomes of $24,124 annually, the city average, this is $12,060. Cars lose value month after month, so you want to spend the minimum amount you can and still obtain a car that won’t have you stranded on the side of the road.


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