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Auto Loans in Newport News (VA)

Having your financing approved in advance is a very good strategy, as it often translates to a reduced annual percentage rate and more favorable terms. We’ve spent years building a network of dealers and lenders across the country, and we are dedicated to getting you approved by the dealer that can get you in the car you want. It is difficult to imagine a more convenient way to line up the financing required for your new car.

Newport News Car Dealers for Bad Credit

You shouldn’t let credit keep you from the driver’s seat of your next car. We can pair you with dealers all across Virginia that want to get you the loan you need, regardless of your credit score. As compared to a BHPH car lot, such dealers typically offer cheaper rates and significantly better terms. Your income and credit determines which cars you’re qualified to finance. Usually, when you have below-average credit, you can get approved for six to eight times your monthly income. For the Newport News resident making $1,939 each month, this is $11,634 to $15,512. That being said, only 10% of your income ($194) should be allotted to your car payment, which will restrict how much you can spend.

An auto finance specialist is standing by, waiting to determine how much you can borrow, and at what rate of interest. If you want to speak with one, make sure you apply online.

New or Used Vehicle

New car? Used car? Both have benefits. Because new cars lose value so fast, you might want to consider a pre-owned vehicle.

New Car Used Car 1 Used Car 2 Used Car 3
Years Old 0 1 2 3
Price $19,390 $14,543 $11,634 $9,695
Down Payment $3,878 $1,454 $1,163 $970
APR 5.00% 7.50% 7.50% 7.50%
Length 5 years 4 years 4 years 4 years
Payment Per Month $292.73 $316.46 $253.17 $210.97
Interest $2,052 $2,102 $1,681 $1,401
Amount Paid $21,442 $16,644 $13,315 $11,096

In House Financing Dealerships in Newport News, VA

Maybe you’ve thought of getting your vehicle through a buy here pay here car lot in Newport News? These kinds of Newport News bad credit car dealers don’t depend on banks or finance companies for financing, so they’re able to work with a wide selection of shoppers.

Sometimes men and women with really terrible credit think that an in house financing car lot is the only real establishment that will be willing to finance them. Unfortunately, Virginia bad credit car loans from credit unions and banks typically involve less expensive rates.

What Car to Buy?

It really is crucial to go with a vehicle that won’t overburden your budget. Just 8% of your monthly earnings should be invested in this new payment. For Newport News residents, having an average income of $1,939, this would be $155.

Good Credit Okay Credit Subprime Credit
Payment Amount $155 $155 $155
Rate 3.50% 7.00% 11.00%
Term Length 5 Years 5 Years 5 Years
Down Payment $2,132 $1,958 $1,784
Loan Amount $8,527 $7,834 $7,134
Interest Paid $780 $1,473 $2,173
Total Paid $11,439 $11,266 $11,091
Purchase Price $10,659 $9,792 $8,918

Used Cars in Newport News, VA


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