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Auto Loans in Kingwood (TX)

Has your credit been declined before? It’s a good idea to work with a lending company that can give you the funds you need at a rate you can afford. We’re proud to work with a wide-ranging network of dealers and finance companies that want to fund your purchase, even if your credit history leaves much to be desired.

Just apply online. You will be matched with a finance specialist from a dealer or lender local to you.

Auto Loans Kingwood TX

Bad Credit Car Dealers in Kingwood, Texas

If you are trying to find a dealership in Kingwood that finances low credit scores, welcome to Motive Auto Finance: we’re happy to help. Unlike buy here pay here dealers, these types of dealers offer:

  • Interest rates that are fair.
  • Down payments based on the vehicle’s value.
  • New vehicles, instead of only pre-owned ones.

Your credit and income dictates the cars you’re eligible to finance. With a low credit score, the most you can borrow is six to eight times the amount you make per month. For residents of Kingwood making $5,150 each month, this is $30,900 to $41,200. Having said that, just 8% of your income ($412, in our example) should be allotted to your car payment, which could very well limit how much you can spend.

Submit your application to have a finance specialist confirm how much car you can afford.

Verification Documents for Kingwood Consumers

To avoid any hurdles, you’ll want to bring the requested documentation when financing your car. There are few lenders willing to approve an applicant who does not have their license. Confirming your income is of prime concern, so you’ll need to have two or three recent paycheck stubs. Lenders won’t finance an uninsured vehicle, so obviously, proof of insurance is an additional requirement. Lenders also need to make sure that they have your correct address, so they can send you any required correspondence.

When you submit your application, we match you up with an auto finance specialist who will lead you through each step of the process.

Buy Here Pay Here Car Lots in Kingwood, TX

Buy here pay here dealers ordinarily deal with people who have severe credit problems such as:

  • Chapter 7 or 13 Bankruptcy
  • Asset Repossession
  • Debt Settlement
  • IRS Liens
  • Collections
  • Judgments
  • Charge-offs

It’s true, they do not check your credit, meaning your credit problems shouldn’t be a hindrance, but chances are you will pay too much for this opportunity.

Negatives include exorbitant annual percentage rates that are right up there with Texas’s maximums, coupled with higher than average rates of repossession Because of this, these car dealers have a sullied reputation. We want to connect you with subprime finance professional who can get your loan funded, even if your credit is really bad.

Improving Your Credit in Kingwood

There are three major credit agencies: Equifax, Experian, and Transunion. In most cases, auto lending companies report your payments to these agencies, giving you the opportunity to raise your credit. If you submit your payment as agreed every month, you will start to create a strong history of debt payment, which accounts for 35 percent of your FICO score. Your score won’t skyrocket the day you pay the balance of your loan. Rather, its climbs over time as you keep paying your bills in a timely manner. The majority of lenders allow you to arrange an automatic payment each month, so the money is taken straight from your bank.

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