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Auto Loans in Summerville (SC)

A car is a big purchase, but if you are clever in how you take care of the financial process, it can save you a small fortune down the road. We give you the ability to apply for financing through our 50-state network of dealers and lenders. It’s difficult to envision a better way to get approved for your next car.

Summerville Car Lots That Finance Bad Credit

These days, many dealerships have finance departments dedicated to subprime auto lending. Any time you have less-than-perfect credit, there are certain things to be expected elevated interest rates, more substantial down payments, and smaller loans. On the other hand, don’t forget that you’re getting not just a car, but also the opportunity to boost your credit score. There are many of these dealerships in our network, and they want to get you the car you want. Go here to submit your application.

New Versus Pre-owned Vehicles

New and used cars each offer their own merits. Oftentimes, a pre-owned vehicle is the better choice. The APR rates on new cars are lower, but pre-owned vehicles are substantially less expensive.

New Car Pre-owned Car
Years Old 0 3
Price $25,500 $12,750
Down Payment $5,100 $1,275
Loan Rate 5.00% 7.50%
Length 60 months 48 months
Payment Amount $384.97 $277.45
Total Interest $2,698 $1,843
Total Outlay $28,198 $14,593

Summerville Buy Here Pay Here Dealerships

Buy here pay here dealers usually help people with acute credit problems such as:

  • Bankruptcy
  • Involuntary Repossession
  • Debt Settlement
  • Collections
  • Judgments
  • Charge-offs

Typically, dealer financing is indirect, as dealers go through various lenders to offer the loans, but buy here pay here dealers behave as both lender and dealer.

Unfortunately, you will be faced with high rates of interest, massive down payments, and cars and trucks that are too expensive for their mileage and condition. There is a good reason that these dealers don’t have the best reputation. We can put you in touch with a reputable dealer who can get your loan funded, even if your credit is dreadful.

Credit Considerations for Summerville Residents

Along with giving you the funds required, a car loan can help you get your credit on the right track. By making payments month after month, you prove to creditors that you are the type of client they prefer.

Your score will not improve the day you pay the balance of your loan. Rather, its increases little by little as you continue making payments month after month. Many lenders and dealers let you set up an automatic monthly payment, so the payment is deducted directly from your checking account.

Used Cars in Summerville, SC

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