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Auto Loans in Sterling (VA)

All throughout Virginia, lending institutions have not been approving auto loans like they once did, and Sterling is no exception. We believe that car loans should not be so troublesome for Sterling residents, regardless of whether they’ve got a low credit score. Everyday, we help men and women finance a car in spite of:

Bad Credit Auto Loan Sterling Virginia
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  • Poor Credit
  • Zero Credit
  • Bankruptcies
  • Property Foreclosure

This is our first priority. Want to get cracking? Visit here to submit your application.

Bad Credit Car Dealers in Sterling, Virginia

Don’t allow credit to stop you from buying your next car. We have access to dealerships in Sterling that won’t deny you an auto loan, just because your credit isn’t fantastic. Since you’re a higher-risk applicant, you can expect:

  • Rates of interest that are more expensive.
  • Down payments that are more substantial.
  • Loan repayment terms that are shorter.

With that being said, keep in mind you’ll be getting a car, yes, but also the chance to raise your credit score. Here at Motive Auto Finance, we work with many of these dealerships, and you can get paired with one by submitting your application.

Used or New Vehicle?

Have you considered whether you’re going to buy a new or used car? You’re able to finance a new car for longer, and at a lower interest rate, but you pay a good deal more when it comes to purchase price and down payment.

New Car Pre-owned Car
Age New 3 Years Old
Price $32,630 $16,315
Down Payment $6,526 $1,632
Loan Rate 5.00% 7.50%
Months 60 48
Monthly Payment $492.61 $355.03
Interest Paid $3,453 $2,358
Total Amount Paid $36,083 $18,673

Tote The Note Dealerships in Sterling, VA

Sterling Buy Here Pay Here

Maybe you’ve considered getting your vehicle through a buy here pay here dealer in Sterling? These kinds of Sterling bad credit car dealerships provide financing on location, quite often with no a credit check. Considering they don’t rely on a bank or finance company for financing, they’re able to help a broad selection of borrowers. Countless people with really low credit believe that a buy here pay here car lot is the only real place that will be willing to accept their credit. But bear in mind, the cost of your car or truck will be inflated due to outrageous rates of interest, and it is unlikely that your credit rating will improve since these dealers have no relationship with Equifax, Experian, and Transunion.

Securing the Right Loan

It’s essential that you pick a vehicle that won’t stress your budget. The following table shows how much the Sterling consumer ought to spend based on a monthly income of $3,263, a car payment that’s 8% of this income, and a repayment term of 5 years–the most extended term advisable.

Excellent Credit Okay Credit Subprime Credit
Monthly Income $3,263 $3,263 $3,263
Monthly Payment $261 $261 $261
APR 3.50% 7.00% 11.00%
Years 5 5 5
Down Payment $3,587 $3,296 $3,002
Loan Amount $14,349 $13,183 $12,006
Interest Paid $1,313 $2,479 $3,656
Total with Interest $19,250 $18,958 $18,664
Vehicle Price $17,937 $16,479 $15,008

Used Cars in Sterling, VA for Sale

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