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Auto Loans in Wilkes Barre (PA)

Missed payments and unpaid bills can damage your credit score. We have many auto loan companies and dealers in our network who approve car loans for people with bad credit in Wilkes Barre on a daily basis. All you have to do is submit your application online. We will match you to a dealer or lending company specialist who’ll work hard to find you just the right auto loan.

Bad Credit Car Dealers in Wilkes Barre, PA

You shouldn’t let credit stand in the way of your next car. We can pair you with dealerships in Wilkes Barre who are willing to compete for your business. As compared to a buy here pay here car lot, such dealers typically offer less expensive rates and more favorable terms. You may not have the credit and income to finance the more expensive cars on the lot. With bad credit, the most you can borrow is 6 to 8 times your monthly income. For the Wilkes Barre consumer making $1,276 a month, this is $7,656 to $10,208. Having said that, you’d be wise to borrow a limited amount, confining your monthly payment to just 10% of your income–$128, in this example.

An auto lending specialist is standing by, waiting to determine how much you’re qualified to borrow, and at what interest rate. Just go here to apply online.

Should You Buy a New or Pre-owned Vehicle?

Both new and pre-owned cars can be purchased through us. New cars come with more affordable interest rates. Having said that, they cost much more than their used peers, and of course the down payments required are a lot larger.

New Car Used Car
Years Old 0 1
Price $12,760 $9,570
Down Payment $2,552 $957
Interest Rate 5.00% 7.50%
Months 60 48
Payment $192.64 $208.25
Interest $1,350 $1,383
Amount Paid $14,110 $10,953

Buy Here Pay Here Car Lots in Wilkes Barre, PA

In house financing, otherwise referred to as buy here pay here financing, has boomed in the years following the downturn, mainly because so many people’s credit ratings suffered on account of the credit crunch and housing bubble. They seldom check your credit, so bad credit probably won’t be a barrier, but you really pay for this in the end. Drawbacks include:

  • Exorbitant Rates of Interest
  • Overpriced Down Payments
  • Steeply-Priced Autos
  • GPS Monitoring Devices

There’s more: these car lots rarely report to the credit agencies, so you could make all of your payments punctually without a lift in your credit score.

How Much You Should Pay for a Car

The best car, price-wise, will be based on your income and credit. To place yourself in a strong position monetarily, spend no more than 8% of your monthly income on your loan payment. For consumers in Wilkes Barre, with an average income of $1,276, this is $102.

Exceptional Credit Okay Credit Poor Credit
Income $1,276 $1,276 $1,276
Payment Amount $102 $102 $102
Loan Rate 3.50% 7.00% 11.00%
Down Payment $1,403 $1,289 $1,174
Interest Paid $513 $970 $1,430
Total with Interest $7,528 $7,414 $7,299
Sticker Price $7,014 $6,444 $5,869

Cars for Sale in Wilkes Barre, PA


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