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Auto Loans in Fredericksburg (VA)

Before the dawn of the internet, financing a car with bad credit in Fredericksburg was extremely difficult. Then we emerged as a market-leader. Because a great many banks and lenders in Virginia are still rejecting people with a bad credit score, it could take some time to find a loan provider who can approve you for financing. Fortunately, we can offer you an innovative system for auto finance acceptance created with poor credit in mind.

On a daily basis, we help consumers get approved for a loan regardless of problems such as:

Auto Loan Fredericksburg Virginia
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  • Poor Credit Ratings
  • Limited Credit
  • Bankruptcies
  • Property Foreclosure
  • Repossession

This is our specialty. Ready to get going? Click the link to submit your application.

Fredericksburg Car Lots for Bad Credit

Most traditional lenders like banks turn down applications from individuals with bad credit. Thankfully, there are dealerships and finance companies that do accommodate the sub-prime market. Just like any bad credit loan, expect:

  • Rates of interest that are more expensive.
  • Down payments that are bigger.
  • Loans that are modestly-sized.

With that being said, remember you’re getting a car, of course, but also the chance to restore your credit. There are many of these dealers in our network, and when you submit your application, we can connect you with one who wants to accept you for financing.

Can You Get Financed without a Down Payment?

A down payment, as you know, is the money you owe in advance on the day you obtain any financed vehicle. A down payment gives you quite a few benefits:

  • Lessens the number of months you are upside down.
  • Loan size is minimized.
  • Lower risk loan, which means a reduced interest rate.

If you have bad credit, it’s often challenging to finance a car without a down payment, but remember that trading in your old car or truck could cover your down payment in place of cash.

Buy Here Pay Here Car Lots in Fredericksburg, Virginia

People in Fredericksburg go to buy here pay here dealerships, also called your job is your credit dealers, believing they will only be able to get approved without a credit check. Not the case. They may not check your credit, which means bad credit probably won’t be a hindrance to approval, but you really pay for this over the long haul. Alas, you can expect inflated rates of interest, massive down payments, and somewhat battered vehicles that are steeply-priced. Worst of all, these dealers rarely report to the credit bureaus, which means you could make all of your payments punctually without a boost to your credit score.

Cars in Fredericksburg That Suit Your Budget

It is important to decide on a car or truck that is realistic relative to your interest rate and income. Here’s a good rule of thumb: spend only 8% of your monthly income on your new payment. For a consumer with a monthly income of $2,558, the average in Fredericksburg, this would be $205.

Great Credit Okay Credit Subprime Credit
Monthly Income $2,558 $2,558 $2,558
Payment $205 $205 $205
APR 3.50% 7.00% 11.00%
Months 60 60 60
Money Down $2,812 $2,584 $2,353
Note Size $11,249 $10,335 $9,412
Interest Paid $1,029 $1,944 $2,866
Total Paid $15,091 $14,862 $14,631
Car Price $14,061 $12,918 $11,765

Used Cars for Sale in Fredericksburg, VA

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