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Auto Loans in Bremerton (WA)

Your credit score is massively important when shopping for a car, and fewer applicants have been getting financed thanks to economic downturn. We enable you to find a dealer or lender that doesn’t turned down every applicant with less than perfect credit. Regrettably, this is typical of a lot of banks. We have spent years building an extensive network of dealers and lenders that are willing to consider your application, even if you’ve got a credit score of less than 680. Go on and apply online, and you could be behind the wheel of a new car by end of day.

Bremerton Car Lots for Bad Credit

Dealers that can arrange sub-prime financing are commonly known as bad credit car dealerships. Generally, these types of dealers offer:

  • Realistic APR rates.
  • More affordable down payments.
  • New and used vehicles.

The exact models you’re eligible for will be determined by what you earn each month, and how high your credit score is. It’s best to find an easily affordable, reliable vehicle having payments amounting to 10% of your income–any higher, and you may find it challenging to make your payments on schedule. For people who make $2,607 a month, the average in Bremerton, this would be a payment of $261.

A vehicle finance consultant can help you determine how much you’re eligible to borrow, and at what APR. To get going, all you have to do is apply online.

Can You Get a Car Loan without a Down Payment?

Even if you have good credit, a down payment can be an obstacle when trying to finance a car. A down payment provides a multitude of benefits:

  • Less negative equity.
  • Less must be borrowed.
  • Less risk for the lender, translating to a lower annual percentage rate.

Keep in mind that your trade-in vehicle can be used as your down payment, enabling you to finance a car without having to put down any of your cold hard cash.

Bremerton Buy Here Pay Here Car Lots

Many people in Bremerton and all over Washington turn to buy here pay here dealerships, sometimes referred to as tote the note dealers, believing that they can only get financed at such a place. Not true. Nearly all dealer finance is outsourced, in that car dealers work with off-site banks and lenders to finance the loans, but BHPH dealers handle everything on site. They are the actual source of the loans.

Cons include:

  • Excessive Interest rates
  • Massive Down Payments
  • Steeply-Priced Vehicles
  • Invasive Repossession Tactics

That isn’t all: these dealers rarely report back to the credit reporting agencies, so you could make all of your payments on a monthly basis without reviving your credit score.

What Car to Buy?

The car you can buy, price-wise, will be based on your income and interest rate. Have a look at the following estimations, demonstrating how much the Bremerton consumer ought to spend based on a monthly income of $2,607, a car payment that amounts to 8% of this income ($209), and a finance term of 5 years.

Good Credit Fair Credit Poor Credit
Income Per Month $2,607 $2,607 $2,607
Monthly Payment $209 $209 $209
APR 3.50% 7.00% 11.00%
Months 60 60 60
Down Payment $2,866 $2,633 $2,398
Interest Paid $1,049 $1,981 $2,921
Total Investment $15,380 $15,147 $14,912
Purchase Price $14,331 $13,166 $11,990

Used Cars in Bremerton, WA for Sale

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