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Auto Loans in Mesquite (TX)

Your FICO score is is of great importance when financing a car, and acceptance rates have dropped since the credit crunch. We allow you to find a lending company who won’t just approve your credit, but allow you to restore it. We work with an unrivaled network of lenders and dealers that want to fund your purchase, whether you’d like a used car or a new one.

Don’t delay: apply online, and you could have the loan you need in no time.

Mesquite Car Dealers for Bad Credit

It’s best to try to avoid buy here pay here dealers, which have a reputation for underhanded lending tactics. There are larger dealerships that arrange loans through banks, credit unions, and finance companies–all of which are better regulated by federal and state authorities. Any time you have poor credit, expect:

  • Interest rates that are higher.
  • Down payments that are larger.
  • Repayment periods that are shorter.

On the other hand, they will get you approved for financing through lenders that supply information to the credit bureaus–imperative if you wish to repair your credit. At Motive Auto Finance, we work with many such dealerships, and when you submit your application, we can connect you with one who wants to accept you for financing.

Best to Purchase a Pre-owned Vehicle?

Have you considered whether you want a used or new car? You should. It’s possible to finance a new car for longer, and at a lower interest rate, but you spend considerably more overall.

New Car Pre-owned Car
Age New 3 Years Old
Price $33,980 $16,990
Down Payment $6,796 $1,699
APR 5.00% 7.50%
Years 5 4
Monthly Payment $513.00 $369.72
Interest Paid $3,596 $2,456
Total Outlay $37,576 $19,446

Mesquite Buy Here Pay Here Dealerships

People young and old resort to buy here pay here auto lots, thinking they will only be able to get approved without a credit check. Not the case. Normally, dealer financing is outsourced, as dealerships go through various lenders to offer the loans. On the other hand, buy here pay here dealers don’t. They are the actual source of the loans. Sadly, you should be prepared for high interest rates, large down payments, and high mileage vehicles that are overpriced. There’s more: these dealerships almost never work with the credit agencies, so you could make every single payment in a timely manner without boosting your FICO score.

Credit-Building for Mesquite Residents

When you don’t miss payments, a car loan has the ability to raise your FICO score. Be that as it may, this impact isn’t guaranteed. You have to pay back the loan as contracted, making every payment on time. Having said that, you can hurt your credit by letting your payments go unpaid. You don’t want to underestimate the benefits of a superior credit score. It can help you save tens of thousands of dollars in the years to come, and you simply need to pay your bills each and every month.

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