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Auto Loans in Beaumont (TX)

Has a car lot in Beaumont turned you away on account of bad credit? Fear not. A favorable credit record may lead to lower interest rates, but we can help you find the auto loan you need. To get started, simply complete your credit request. We will match you to a lender or auto dealer willing to pre-approve you for a car loan, bad credit ok.

Beaumont Car Dealerships for Bad Credit

Dealers that support credit-challenged customers are, in many cases, known as bad credit car dealerships. In any subprime financing scenario, certain things are to be expected higher interest rates, larger down payments, and more stringent repayment requirements. Having said that, it’s much better than being unable to finance a car, and these dealers can help you build up your credit by establishing a solid payment history. There are a great number of dealers in our network, and when you apply online, we work hard to connect you with one who wants to accept you for financing.

Zero Down Cars in Beaumont

Even if your credit pretty good, a down payment–or the lack of one–can stand in the way of financing your car. Dealers and lenders like you to offer money upfront, since doing so will reduce risk of the loan, which means a decreased APR rate.

However, we recognize that setting aside 10-20% of a new car isn’t so simple. Of course, you can sell your pre-owned car or truck on Craigslist and use the profit as a down payment, or for slightly less trade it in at the dealership.

Buy Here Pay Here Dealerships in Beaumont, TX

Often known as buy here pay here, tote the note, or your job is your credit car dealerships, these establishments ordinarily have a few key features:

  • They approve auto loans in-house.
  • They don’t perform credit checks.
  • They want you to pay them 2-4 times per month, often in person.

For people who have horrible credit, Beaumont buy here pay here car lots tend to be the only real option, despite the fact that Texas bad credit auto loans from banks and credit unions typically feature lower rates.

What Car to Buy?

Never buy more car than you really need. Never spend more than 8% of your monthly income on a car payment. For a consumer making $1,779 per month, the average in Beaumont, this is $142.

Good Credit Okay Credit Subprime Credit
Income $1,779 $1,779 $1,779
Monthly Installment $142 $142 $142
Loan Rate 3.50% 7.00% 11.00%
Money Down $1,956 $1,797 $1,636
Note Size $7,823 $7,187 $6,546
Interest Paid $716 $1,352 $1,993
Total with Interest $10,495 $10,336 $10,176
Purchase Price $9,779 $8,984 $8,182

Used Cars in Beaumont, TX

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