Banks and dealers will perform a credit check when deciding whether or not to finance you, and a poor score could result in the following:
- Your application being rejected.
- Substantial interest rate.
We help you find a lender or dealer that is receptive to your credit and income. We have built a wide-ranging network of dealers and lenders that can finance people who have all sorts of credit histories, even people who’ve faced issues like:
- Low credit scores.
A vehicle finance specialist will help you line up your loan, then you can just go to the dealership and choose the car you want. Visit here to contact a local finance professional.
Bad Credit Car Dealers in Longview, Washington
With the rise in bad credit after the market downturn, a greater number of dealerships now have finance departments devoted to subprime financing. Contrary to buy here pay here dealers, these dealerships offer:
- Acceptable interest rates.
- Reasonable down payments.
- Both used and new vehicles.
You may not be eligible to finance all the cars in the showroom. With adverse credit, you can borrow 6 to 8 times the amount you make on a monthly basis. For the Longview consumer who makes $3,183 each month, this is $19,098 to $25,464. At the same time, it’s best to borrow less than you can, restricting your monthly payment to just 10% of your income–$318, in this case. Apply online to talk with a lending specialist about your options.
Financing a Car in Longview with Nothing Down
Want to get approved for a car, but you don’t have a down payment? When you buy a car, you commence a race with depreciation. When the car loses value more rapidly than you can make payments, then you have negative equity. A down payment offsets depreciation.
We might be able to help you obtain an auto loan in Longview without putting down any cash, particularly if you have your used vehicle to offer in trade. Consult a qualified lending consultant and discuss your options.
Longview Buy Here Pay Here Dealers
Thinking about going to a buy here pay here dealer for a car that could be financed? Ordinarily, there are considerably better alternatives. They won’t require credit checks, so bad credit shouldn’t be a hurdle to getting approved, but it’s quite possible you will be charged excessively for this opportunity.
Unfortunately, you should be prepared for excessive annual percentage rates, large down payments, and well-used vehicles that are too expensive given their condition. That isn’t all: these dealerships very rarely report to the credit bureaus, and that means you could make all of your payments as agreed without any boost to your credit score.
Can This Increase Your Credit Score?
If your credit isn’t the best, you may be scared that an auto loan will do further harm, but that is seldom the way it goes. Financing a car is a good way to restore your credit. Taking out and paying down a loan, on schedule and as contracted, shows that you are a responsible borrower, meaning lower rates and more advantageous terms going forward. Of course, the opposite is likewise true: you can further damage your credit if you go into default on your payments. You don’t want to dismiss the merits of an increased credit score. The benefits are myriad, and you’ve just got to pay your bills month in and month out.