Low credit rankings. They are prevalent in Lynnwood and across the state of Washington. We think that car loans should not be so troublesome for people in Lynnwood, Washington, regardless of their credit scores. Everyday, we help folks in Lynnwood get approved for auto financing in spite of challenges like:
- Bad Credit Scores
- Limited Credit
- Property Foreclosure
It’s our number one priority. Want to get cracking? Please click here to submit your application.
Lynnwood Car Dealers That Approve Bad Credit
In this day and age, many dealerships have finance departments specializing in subprime auto lending. More often than not, these types of dealerships offer:
- Interest rates that aren’t exorbitant.
- Down payments that are affordable.
- Vehicles that are more reliable.
You may not have the credit and income to finance the more expensive cars on the lot. Here is an example based on an income of $2,081 per month, the average in Lynnwood:
|Credit Rating||Multiplier||Amount Borrowed|
|Temporary Bad Credit||8||$16,648|
|Very Bad Credit||6||$12,486|
Don’t forget that this is strictly an estimate. You might not be eligible to finance this much, particularly if you have a lot of other debt.
Apply online to learn how much you can borrow.
Is a New Vehicle a Good Idea?
Have you considered whether you want to buy a new or used car? A brand new car drops in value 20% during the first 12 months of ownership, and after three years, 50%, so you can often get a better deal by purchasing pre-owned.
|New Car||Used Car 1||Used Car 2||Used Car 3|
|Age||New||1 year old||2 years old||3 years old|
Buy Here Pay Here Car Dealers in Lynnwood, WA
Commonly known as in house financing, your job is your credit, or tote the note car lots, these establishments ordinarily have a few key features. They…
- Furnish auto loans direct to the consumer.
- Don’t check your credit.
- Ask for weekly or biweekly payments, often in person.
Many consumers with very bad credit believe that a buy here pay here car lot is the only place that will be willing to finance them, even though Washington bad credit auto loans from banks and credit unions typically feature less expensive rates.
Can Financing Elevate Your Credit Score?
Not only will an auto loan supply you with the money needed to buy your car, it can help you rebuild your credit. By making payments as scheduled, you prove to banks and lenders that they are likely to have the funds they lend you paid back on time.
The results are slow and steady, gaining traction over time. Of course, the potential benefits to a better score are huge:
- Slashed interest rates.
- Less expensive rates for insurance.
- Chance to refinance existing lines of credit.
- Fewer problems with credit approval.