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Auto Loans in Texas (TX)

Around Texas, getting an auto loan is much trickier, because of the shaky economy. Nobody understands poor credit like us.

Seven days a week, we help people in Texas obtain the car loan they need even with:

  • Bad Credit
  • Limited Credit
  • Bankruptcies

It’s what we do. Are you ready to get moving? Simply click here to apply online.

Texas Car Dealerships That Finance Bad Credit

Have you considered where you could buy your new car? If you’ve got adverse credit, you’ll probably have to buy your car from a dealer, not an individual seller, simply because lenders rarely approve these types of loans for people who’ve sub-standard credit. Thank goodness there are dealers that finance poor credit. By and large, these larger dealerships offer:

  • Interest rates that aren’t excessively high.
  • Down payments based on the vehicle’s worth.
  • New vehicles, not just pre-owned ones.

The dealer will consider your credit and income to establish the specific cars you can finance. Make sure you opt for a vehicle that won’t break your budget, having a payment equivalent to 10% of your income or less. For people bringing in $3,725 on a monthly basis, the average in Texas, this translates to a payment of $372. Apply online to learn how much you can borrow.

Documentation Details

To steer clear of any surprises, make sure you supply all the documentation required when financing your car. Requested documentation is likely to include:

  • Driving License
  • Proof of Income
  • Proof of Insurance
  • Proof of Residence
  • Personal References

Your financing specialist can inform you of any additional documentation you need.

Tote The Note Car Dealers in TX

Texas In House Financing

Dealerships in Texas that approve auto loans in house have a few things in common:

  • These dealers offer auto loans on-site.
  • They do not check your credit.
  • They demand weekly or biweekly payments, often in person.

For consumers that have really bad credit, Texas buy here pay here car lots are often the only real option, even though there are quite a few drawbacks:

  • Excessive Interest Rates
  • High Down Payments
  • Inability to Improve Credit Score

Will a Car Loan Increase Your FICO Rating?

So long as you don’t miss payments, an auto loan can in fact help you restore your credit. Financing a car:

  • Offers you the opportunity to revitalize your payment history (35% of your score).
  • Improves your credit mix, or the array of credit types under your belt (10% of your score).

But bear in mind, it’s possible to wreck your credit by making late payments or even missing them entirely. It is tough to say precisely how much your score is going to go up, but some industry professionals have indicated a 5-10% increase per month.