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Auto Loans in Houston (TX)

Are you worried about financing a car on account of a low credit score? We can help. As opposed to waiting until you are in the dealer financing office, we allow you to line up a car loan ahead of time. It is hard to imagine an easier way to secure your auto loan.

Auto Loans Houston TX

Bad Credit Car Dealers in Houston, TX

Dealers able to assist consumers with sub-prime auto loans are usually referred to as bad credit dealerships. In comparison with a BHPH dealer, such dealerships offer more affordable rates and improved terms. The dealer will consider your credit and income to determine the specific cars you can finance. Make sure you purchase an affordable, efficient vehicle with payments that amount to just 10% of your income. For people who earn $1,888 a month, the average among Houston residents, this comes to a payment of $189. Submit your application to find out how much you can borrow.

Can You Finance a Car without a Down Payment?

A down payment might be a challenge, but for people with a bad credit score, it’s sometimes a necessity. A down payment lowers investment risk, simply because the lender has an improved chance of recouping their losses if the vehicle has to be repossessed. For you, the consumer, this should a lesser interest rate. Remember that your trade allowance may be put toward your down payment, allowing you to finance a car without putting down any of your hard-earned cash.

Houston Buy Here Pay Here Dealers

The BHPH industry keeps growing, largely due to the fact that so many consumers’ credit scores suffered on account of the housing market and slow economy. These dealers will finance nearly anyone, regardless of their credit, but you will find downsides.

Regrettably, you should be prepared for high annual percentage rates, high down payments, and vehicles that cost too much given the number of miles they have. Is elevating your credit a concern for you? If so, you should submit your application through us, seeing as buy here pay here dealerships won’t help you in increasing your credit.

Guidelines for Financing

In terms of the monthly payment on your car, you shouldn’t spend greater than 10% of what you earn on a monthly basis. At the same time, you don’t want to get a loan for over 5 years. With this payment and lending term, you will be purchasing a vehicle costing around 50% of your yearly income. If you make $22,655 per year, the average for residents of Houston, this would equate to a $11,328 car or truck. Keep in mind, this is the most that you should budget. Plenty of professionals propose investing just 10-30% of your income for a new car or truck.

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