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Auto Loans in Rapid City (SD)

Delinquent payments and unpaid bills can do a number on your credit rating. No one knows the challenges of buying a car with bad credit like us. Here’s how we empower our consumers to overcome their credit ratings and secure car loan they need:

  1. You apply online.
  2. Our innovative approval system finds you a car car loan company.
  3. Your finance company contacts you about completing your automotive financing arrangement.

Bad Credit Car Dealerships Rapid City South Dakota

Rapid City Car Lots That Accept Bad Credit

If you are looking for an auto dealer that takes poor credit, we can help. Since this is a high-risk loan, there are certain things to be expected higher rates of interest and bigger down payments, along with shorter lending terms. With that being said, the rates and terms are much better than you would be offered at one of Rapid City’s buy here pay here lots. We work with many of these dealerships, and they want to get you behind the wheel of the car you want. Go here to submit your application.

Should You Buy a New Vehicle or a Used One?

We’ve seen that many buyers in Rapid City don’t realize they can get a loan for a new or used car. Brand new cars and trucks have much lower interest rates. That said, they cost much more than their used brethren, and they require larger down payments.

New Car Used Car
Years Old 0 1
Price $24,360 $18,270
Down Payment $4,872 $1,827
Loan Rate 5.00% 7.50%
Length 60 months 48 months
Payment Amount $367.76 $397.57
Finance Fees $2,578 $2,641
Amount Paid $26,938 $20,911

Buy Here Pay Here Dealerships in Rapid City, SD

Have you considered getting approved through a buy here pay here dealership in Rapid City? These Rapid City bad credit car lots offer financing on location, quite often without a credit check. Because they don’t rely on a traditional bank or investment company to approve the credit-seekers, they can service an extensive range of clientele. For consumers with terrible credit, Rapid City buy here pay here dealerships are often the only way to go. But bear in mind, the annual percentage rates are much higher than you’d get from a dealership that offers indirect lending. In addition, they hardly ever report payments to the credit agencies. This means your credit rating won’t increase even if they pay off the loan as scheduled.

Can Financing Improve Your FICO Rating?

Not only does an auto loan provide you with the funds needed to purchase your car, it can actually help you raise your credit score. Credit improvement is progressive, but within 6-12 months, you should notice your credit score start to rise. The positive results are gradual, gathering momentum with time. In order to be sure you never miss a payment, consider intelligent solutions such as automated deductions.

Used Cars for Sale in Rapid City, SD

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