When it comes to financing a car in New Braunfels, our service is unrivaled in the industry. We do business with a wide network of dealers and lenders, which means we can help applicants of every kind, from good credit to bad. It’s difficult to imagine a better way to secure your auto loan.
Bad Credit Car Dealerships in New Braunfels, TX
If you are looking for a car dealer that will take low credit scores, you’re in luck. Since you’re a higher-risk applicant, you can expect more expensive interest rates and bigger down payments, along with shorter repayment periods. On the plus side, it’s much better than not having a new car at all, and if you make your payments on schedule, you can increase your credit score as you pay off your loan. We work with many of these dealerships, and they want to get you behind the wheel of the car you deserve. Just go here to apply online.
Cheaper Car Loan Rates for New Braunfels Drivers
Financing at the cheapest interest rate possible is extremely important. Think about this: If you borrow $20,295 at 3.50% APR for Five years, you’d pay $1,857 in interest. At a rate of 7.00% APR, you’d pay $3,817, and at 11.00%, a staggering $6,181. At the same time, your payment would rise from $369 to $441.
Improve your credit score, and you will be capable of securing lower interest rates. At Annual Credit Report, you can check your report once each year, without spending a dime, and file disputes for any inaccuracies you find, possibly improving your credit score. Additionally, be sure to pay down as much debt as you can, as lenders prefer borrowers with low debt-to-income ratios. Opting for a shorter-term loan will also keep your rate low, and it will also help prevent negative equity. Down payments are also important. The less you finance with respect to the price of your vehicle, the better your interest rate is going to be.
Tote The Note Car Lots in New Braunfels, TX
Dealerships in New Braunfels that offer in-house financing differ from conventional dealerships in several significant ways. They…
- Offer car loans in house.
- Do not perform credit checks.
- Want you to make your installment payments every seven days, often in person.
Often folks with really bad credit believe that an in house financing car lot is the only real place that will take their credit. Unfortunately, Texas poor credit auto loans from banks and credit unions typically come with less expensive rates.
Can Financing Rebuild Your Credit?
Not only will an auto loan give you the money needed to get your car, it has the ability to help you get your credit on the right track. Credit transformations aren’t instantaneous, but after 6-12 months of on time payments, your credit score should start to go up.
But bear in mind, you could potentially damage your credit by letting your payments fall past due. Of course, the benefits to an increased score are considerable, including decreased interest rates and insurance rates, and even reduced down payments and much better terms.