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Auto Loans in Langhorne (PA)

Poor credit affects about 1 out of every 4 Pennsylvania residents. Nobody knows subprime credit like us. To get rolling, all you’ve got to do is complete this simple form. We will match you with a car loan provider or car dealer who can pre-approve you for auto financing.

Bad Credit Car Dealerships in Langhorne, Pennsylvania

You’ll want to keep away from buy here pay here lots, known as they are for predatory lending practices. There are more reputable dealerships that meet the needs of people with damaged credit, while providing a better financing experience. In comparison with a buy here pay here car lot, such dealerships are able to offer:

  • Less owed on the day of purchase, in terms of down payment.
  • Cheaper APRs.
  • Opportunity to rebuild your credit.

Your income and credit dictates the cars you can finance. Here we have an example based on an income of $2,563 per month, the average in Langhorne:

Credit History Multiplier Sum
Good Credit 10 $25,630
Mediocre Credit 9 $23,067
Temporary Bad Credit 8 $20,504
Poor Credit 7 $17,941
Terrible Credit 6 $15,378

These amounts are by no means absolute. You might not be qualified to borrow this much, particularly if you’ve got a lot of other debt. Submit an application to talk to an auto finance specialist about how much car you can afford.

Zero Down Car Deals in Langhorne?

Even if you’ve got a good credit record, a down payment can stand in the way of financing your car. A down payment will reduce your loan-to-value ratio, which is the amount borrowed versus the cost of the vehicle–thereby leading to a decreased rate of interest.

Consumers in Langhorne do sometimes buy cars with no money down, but it’s more common for them to trade in their existing car or truck in order to satisfy any down payment requirement.

Langhorne Buy Here Pay Here Dealers

Most people resort to buy here pay here dealers, also known as your job is your credit dealers, convinced that they can only get financed with no credit check. Not true. Sure, they don’t check your credit, meaning bad credit shouldn’t be an impediment to approval, but odds are you will pay more than you think for your vehicle and its loan.

Most often, preowned vehicles are the only thing for sale, and these aren’t no down payment cars. In most cases, the down payment is close to what you would pay for the vehicle on the private market, and lending rates that flirt with the state’s maximum legal limit are common. For this reason, these car dealers have a bad reputation. We want to place you in the hands of a reputable dealer who can get you the loan you need, even if you’ve been through bankruptcy.

Cars in Langhorne That Fit Your Budget

Be sure you don’t buy more car than you really need. The following table shows how much car the average Langhorne consumer can afford based on a monthly income of $2,563, a car payment equal to 8% of this income, and a finance term of 60 months.

Great Credit Decent Credit Bad Credit
Payment $205 $205 $205
Interest Rate 3.50% 7.00% 11.00%
Money Down $2,818 $2,589 $2,358
Interest Paid $1,031 $1,947 $2,872
Total Investment $15,120 $14,891 $14,660
Purchase Price $14,089 $12,944 $11,788


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