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Auto Loans in Pittsburgh (PA)

Have you thought about getting your car loan pre-approved? It’s a good idea, as the benefits are extensive:

  • A shorter time on the car lot.
  • Potential for a lower interest rate.
  • Personalized dealer visit.

Rather than waiting until you’re in the dealer’s finance office, we enable you to arrange a car loan ahead of time. It’s tough to envision an easier way to purchase your next car.

Bad Credit Car Dealers in Pittsburgh, PA

If you are looking for a dealership in Pittsburgh that will take bad credit, you’ve come to the right place. As with all subprime loans, you can expect increased interest rates and larger down payments, along with shorter lending terms. But keep in mind, the rates and terms are far superior to what you would be given at one of Pittsburgh’s buy here pay here car lots. At Motive Auto Finance, we work with many of these dealerships, and they want to get you in the car you deserve. Go here to apply online.

No Money Down Auto Loans in Pittsburgh?

It’s often necessary to make a down payment on the vehicle for which you’re getting a loan–this is especially the case if you have less-than-perfect credit. Lenders and dealers want you to provide a down payment, since it will minimize risk of the loan. For you, that means a more affordable rate of interest and better terms. Having said that, we are well aware that saving such a hunk of cash is challenging. The good news is, you can sell your vehicle to a buyer in your area, then use the profit as a down payment, or else trade it in at the dealership.

Pittsburgh Buy Here Pay Here Car Lots

People in Pittsburgh turn to buy here pay here car lots, also called your job is your credit car lots, assuming they will only be able to finance a car with no credit check. Rarely is this the case. These dealers will approve pretty much anyone, regardless of their credit, but there are issues.

You will notice that used vehicles are the only thing for sale, and these are not zero down car loans. Quite often, the down payment is as much as the vehicle’s wholesale value, and rates above 20% APR aren’t unheard of. If that weren’t a problem, these car lots almost never report to the credit bureaus, which means you could make each and every payment on a monthly basis with no boost to your credit score.

Can This Strengthen Your Credit Rating?

On top of delivering the funds needed to buy your new vehicle, a car loan can help you raise your credit. If you send in your payment as agreed each and every month, you’ll start to establish a healthy history of debt payment, which accounts for greater than 30% of your credit score. Your score will not skyrocket the day you pay off your loan. Rather, it will increase slowly and gradually as you keep on making payments month after month. Of course, the benefits to a healthier score are huge:

  • Slashed APRs.
  • Less expensive insurance rates.
  • Fewer down payments required.
  • Minimal security deposits for mobile phones, rentals, and home utilities.

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