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Auto Loans in Texarkana (TX)

We understand the difficulties faced by car-shopping consumers all over Texas, particularly those with credit problems. It’s imperative to find a lender who is welcoming to people whose credit isn’t perfect. We’re proud to be your avenue to an unmatched network of dealers and lenders who can and will accept your finance request, based on factors like your income, where you live, and what you credit rating is.

An auto finance manager will help you arrange your finance package. All you have to do is head to the dealer lot and pick out your new car or truck. Visit here to submit your loan application and speak with a professional.

Auto Loans Texarkana TX

Texarkana Car Dealers for Bad Credit

Damaged credit has been a growing issue in Texas, mainly due to the market downturn, and more and more dealerships now have finance departments specializing in subprime auto lending. As with all subprime loans, you can expect:

  • Much higher rates of interest.
  • Much bigger down payment requirements.
  • Tighter repayment conditions.

On the plus side, they will get your loan funded through banks and finance companies that supply information to the credit bureaus, giving you the ability to boost your credit score. We work with many such dealerships, and you can get paired with one by applying online.

Will You Need a Down Payment?

Have you got money saved for a down payment? If not, it might be harder to get financed, though not impossible. Banks and lenders want to see you provide a down payment, as it will decrease risk of the loan, so you can expect a lesser APR rate and better terms. That being said, we are well aware that setting aside 10-20% of the purchase price of a new car can be daunting. Fortunately, you can sell your used car or truck via Craigslist, then put what you make toward your down payment. Otherwise, you could trade it in at the dealership.

Texarkana Buy Here Pay Here Car Lots

Buy here pay here dealerships would like you to believe that you have no option but them, but this typically isn’t the way it is. In most cases, dealer financing is indirect, in that dealerships work with various lenders to offer the loans. By contrast, BHPH dealers provide funding independently. Unfortunately, you can look forward to excessive annual percentage rates, expensive down payments, and somewhat battered vehicles that are steeply-priced. There is a good reason that these retailers don’t have an outstanding track record. Let us match you with dealer finance professional who can put you in the driver’s seat, even if you’ve experienced bankruptcy.

Cars in Texarkana For Your Budget

It’s essential that you decide on a car or truck that won’t stress your income every month. This chart demonstrates how much car the average Texarkana consumer can afford based on an income of $1,018 per month, a payment of $81, and a repayment period of 5 years–the longest term advisable.

Good Credit Decent Credit Subprime Credit
Income $1,018 $1,018 $1,018
Payment $81 $81 $81
Loan Rate 3.50% 7.00% 11.00%
Term Length 5 Years 5 Years 5 Years
Money Down $1,119 $1,028 $936
Amount Borrowed $4,477 $4,113 $3,746
Total Interest $410 $774 $1,141
Price with Interest $6,006 $5,915 $5,823
Car Price $5,596 $5,141 $4,682

Used Cars for Sale in Texarkana, TX

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