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Auto Loans in Bethlehem (PA)

Getting a car financed was much easier before the recession, but credit standards have tightened since that time. We help you find a lender that doesn’t just reject every applicant who has poor credit. Unfortunately, this isn’t unusual among a lot of banks and credit unions. We have spent years developing an unrivaled network of lenders and dealers who help people rebuild their credit through financing.

Your vehicle finance specialist will help you set up your loan, so all you have to do is head to the dealership and choose your new car or truck. Go ahead and apply for financing.

Car Loan Bethlehem PA

Bad Credit Car Dealers in Bethlehem, PA

Have you thought about where you could buy your next car? If you have poor credit, you’ll probably have to get your car from a dealer, as opposed to a private individual, as lenders almost never offer private party loans for people who’ve credit that isn’t perfect. Thank goodness there are dealers that cater to less-than-perfect credit. In any subprime financing scenario, you can expect:

  • More expensive interest rates.
  • Bigger down payments required.
  • More economical assets (cars).

But keep in mind, it’s far better than being unable to get a car, and these dealers can help you restore your credit and maybe even refinance your vehicle at a lesser rate. We work with many of these dealerships, and they want to get you the car you want. Just go here to submit your application.

New vs. Used Cars

It’s one of the most common questions among our clients: new or used car? You can finance new cars at cheaper rates of interest, but you pay far more in the long run.

New Car Used Car
Years Old 0 3
Price $25,320 $12,660
Down Payment $5,064 $1,266
Interest Rate 5.00% 7.50%
Term 60 months 48 months
Payment Amount $382.26 $275.49
Interest Paid $2,679 $1,830
Total Paid $27,999 $14,490

Bethlehem Buy Here Pay Here Dealerships

The buy here pay here industry has boomed in the past few years, mainly because so many people’s credit ratings were impacted by the credit crunch and housing market. Dealers like these will finance practically anybody, regardless of their credit, but you will find disadvantages. More often than not, higher-mileage cars and trucks are the only models available, and you may be required to have a GPS unit placed in your vehicle. Repossession rates are high, and so are the interest rates. There is a good reason that these retailers don’t have a good reputation. Let us match you with subprime finance specialist who can get you financed, not matter your credit.

Financing Guidelines for Bethlehem Borrowers

If you want to be a wise shopper, you should spend no more than 10% of your monthly income on your car payment. At the same time, select a 5-year repayment at the maximum. This translates into a vehicle costing about 50% of what you make annually. Say you earn $30,380 per year, the average for residents of Bethlehem, this would be a car costing $15,192. Cars don’t appreciate like homes, meaning you should spend the least amount you can and still buy a car that suits your family’s needs.

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