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Auto Loans in Orangeburg (SC)

With so much industry experience, we understand the difficulties you face when you need to finance a car with bad credit. It’s advisable to find a lender or dealer that is receptive to your credit and income. We have built an unparalleled network of lenders and dealers who will consider your application, even if you have a credit score in the low or mid 600’s. Just complete your loan application, and we will connect you with a lending professional who can help you secure the loan you need.

Car Loan Orangeburg SC

Orangeburg Car Dealerships That Work with Bad Credit

Dealerships known for sub-prime financing are oftentimes referred to as bad credit dealerships. In general, these types of dealers offer:

  • More reasonable rates of interest.
  • More affordable down payments.
  • Both used and new vehicles.

You may not qualify to finance the hottest, most expensive car on the lot. Here we have an example based on the average per-capita income in Orangeburg, $1,434 per month:

Credit Rating Income Factor Sum
Great Credit 10 $14,340
Fair Credit 9 $12,906
Temporary Bad Credit 8 $11,472
Poor Credit 7 $10,038
Terrible Credit 6 $8,604

These are simply estimates. You may meet the requirements to borrow a greater or lesser amount.

Submit your application to learn your options.

Purchasing a Car in Orangeburg with No Down Payment

Do you want to purchase a car, but you haven’t got the cash for a down payment? A down payment offers various benefits:

  • Less negative equity.
  • Size of loan is reduced.
  • Less risk for the lender, translating to a lesser annual percentage rate.

Don’t forget that the trade allowance from your existing vehicle can usually be used toward your down payment, enabling you to finance a car without putting anything down, at least in cash.

Buy Here Pay Here Dealerships in Orangeburg, South Carolina

Many people head for buy here pay here dealers, otherwise known as tote the note dealers, thinking they will only be able to get approved without a credit check. Not true. Such dealerships offer funding on site, whereas conventional dealers outsource this, and they regard your job as your credit. Drawbacks include:

  • Ridiculous APR Rates
  • Massive Down Payments
  • Overpriced Autos
  • Location Monitoring Units

There’s more: these car lots rarely report back to the credit bureaus, and that means you could make each and every payment as agreed without improving your credit score.

Getting the Ideally-Sized Loan

You may find yourself eligible to purchase a more expensive vehicle than you really ought to. Never spend greater than 8% of what you make each month on this new payment. For a consumer making $1,434 per month, the Orangeburg average, this is $115.

Prime Credit Decent Credit Bad Credit
Monthly Income $1,434 $1,434 $1,434
Payment $115 $115 $115
Rate 3.50% 7.00% 11.00%
Months 60 60 60
Money Down $1,577 $1,448 $1,319
Interest Paid $577 $1,090 $1,607
Total Investment $8,460 $8,332 $8,202
Vehicle Price $7,883 $7,242 $6,595


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