In the market for a new or preowned car? Like most Americans, it’s quite possible you need an auto loan to get yourself behind the wheel of the car you want. Our team serves clients in Killeen and across Texas, helping them get approved online for financing. Most of the time, we can position car shoppers with an appropriate dealer or lender in as little as 60 seconds.
Bad Credit Car Dealerships in Killeen, Texas
Have you thought about where to buy your next car? If you’ve got poor credit, you’ll probably have to get your car from a dealership, instead of a private seller, as most lenders do not offer private party loans for people with sub-standard credit. Thank heavens there are dealerships that specialize in less-than-perfect credit. In comparison with a BHPH car lot, such dealerships provide more affordable rates and improved terms. The dealer will review your credit and income to decide the cars you’re qualified to finance. Make sure you get yourself an affordable, dependable vehicle having payments amounting to 10% of your income–no more. For people earning $2,296 a month, the average among Killeen residents, this would be a payment of $230.
A vehicle lending professional can help you determine how much you can borrow, and at what rate of interest. Go here to submit your application.
No Down Payment Cars in Killeen
Want to purchase a new car or truck, but you haven’t got a down payment? When you buy a car, you’re battling against depreciation. When the vehicle is worth less than you owe, then you have negative equity. A down payment gives you a jump start against depreciation. Bear in mind that the trade allowance from your existing vehicle can be put toward your down payment, so you can effectively finance a car without putting down any actual cash.
Buy Here Pay Here Dealers in Killeen, Texas
Buy here pay here dealers primarily help people with significant credit problems like bankruptcy. Nearly all dealer financing is sourced elsewhere, as dealers work with banks and lenders with whom they have relationships to supply the loans. On the other hand, BHPH dealers provide loans independently.
Unfortunately, you will be faced with exorbitant rates of interest, huge down payments, and high mileage vehicles that are overpriced. There’s a good reason why these dealerships don’t have a very good reputation. We can match you with a reputable dealer who can put you in the driver’s seat, even if your credit is dreadful.
Guidelines for Financing
Take 10% of what you make per month, pre-tax. Make sure you spend no more than this on your car payment each month. Moreover, in order to lessen finance fees and equity issues, opt for a 60-month loan at most. With a 10% payment and 5-year term, you will be purchasing a vehicle which costs approximately 50% of what you make per year. For Killeen residents, having incomes of $27,557 per annum, the average, this is a vehicle which costs $13,776. A new car or truck is a depreciating asset, meaning you should fork out the least amount possible to buy a solid car.