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Auto Loans in Harlingen (TX)

A bad credit rating makes it more difficult to get in the driver’s seat of a new car, but getting approved is possible. We think that auto financing ought not to be a huge problem for Harlingen residents, whatever their credit ratings may be. Advantages we offer include:

Harlingen TX Bad Credit Auto Loans

  • Leading-Edge Application Placement System
  • Huge Dealer Network
  • Support from Local Auto Lending Professionals

Bad Credit Car Dealers in Harlingen, TX

If you are trying to find a dealership that finances low credit scores, you’re in luck. As with all subprime loans, expect:

  • Elevated rates of interest.
  • Much bigger down payments required.
  • More modest loans.

On the plus side, remember you are getting not only a car, but also the chance to build up your credit. We work with many of these dealerships, and when you submit your application, we can pair you with one who wants to approve your credit.

New vs. Used Cars

Many borrowers can qualify to finance either a new or used car. A brand new vehicle drops 20% in value during the first 12 months of ownership, and after 36 months, 50%. For this reason, you can usually get more for your money by buying used.

New Car Pre-owned Car
Years Old 0 3
Price $12,840 $6,420
Down Payment $2,568 $642
Interest Rate 5.00% 7.50%
Length 5 years 4 years
Payment $193.85 $139.71
Interest Paid $1,359 $928
Total Amount Paid $14,199 $7,348

Buy Here Pay Here Financing in Harlingen, Texas

For those who have been through bankruptcy or debt settlement, a buy here pay here dealer could very well sound like a realistic approach. Yes, they don’t carry out credit checks, which means bad credit probably won’t be a hindrance to approval, but you really pay for this in the long run.

Unfortunately, you should expect high interest rates, high down payments, and cars and trucks that cost too much given the number of miles they have. Is improving your credit a concern for you? Then you are better off applying through us, seeing as BHPH car lots won’t help you in improving your credit.

Credit-Building for Harlingen Consumers

It might sound like a financial myth, but it isn’t: a car loan has other benefits. More than merely helping you afford the car you want, it can improve your credit score. To elevate your credit, be sure to make your payments on time, every time. Late payments, however, can hurt your credit score, and quickly! Don’t underrate the benefits of an increased credit score. It makes life so much quite a bit easier and more affordable, and all you have to do is pay your bills month in and month out.

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