If you’re looking to purchase a new car, there is a high probability you will need an auto loan. We’ve spent years cultivating relationships with lenders and dealers across the country, and we specialize in placing your application with the lender who wants your business most. We match you with a lending specialist who can help you arrange the auto loan required for the vehicle you want.
Puyallup Car Dealers That Work with Bad Credit
If you’ve got adverse credit, dealer financing is likely your best bet, since the majority of banks won’t be willing to lend you the funds you need. Fortunately, there are dealers who have vehicle lending experts on the lot, ready to assist you. Since you’re a higher-risk applicant, you can expect:
- Elevated APR rates.
- Much bigger down payments.
- Stricter lending conditions.
However, the experience is superior to that of a buy here pay here dealer, and your vehicle will almost certainly cost you less in the end. There are many of these dealerships in our network, and they want to get you behind the wheel of the car you want. Go here to submit your application.
Financing a Car in Puyallup with Zero Down Payment
Do you have a down payment saved for your new car? You might need one. Banks and lenders want to see you provide a down payment, since doing so reduces the risk built into the loan, which means a lesser APR rate and improved terms.
We could possibly help you get a car loan in Puyallup with zero down, but typically a down payment makes sense.
Puyallup Buy Here Pay Here Dealerships
Buy here pay here dealerships would love you to think that they’re the only ones that will finance you, yet this is seldom the way it is. Dealers like these will finance just about anybody, regardless of their credit, but there are problems with sort of financing.
Most often, higher-mileage vehicles are the only models on the lot, and you may be required to have an ignition kill-switch placed in your vehicle. Repossession is common, and the APRs are about as high as Washington law permits. There’s more: these dealerships don’t report to the credit reporting agencies, so you could make each and every payment on time without any boost to your FICO score.
Will This Rebuild Your Credit?
It’s true: a vehicle loan may actually improve your credit score. A car loan:
- Gives you the opportunity to supercharge your payment history (35% of your score).
- Adds to the spectrum of credit in your profile (10% of your score).
On the flip side, it’s possible to hurt your credit by allowing your payments to become overdue. It’s tricky to gauge precisely how much your score will rise, but industry professionals have observed a 5-10% improvement monthly.