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Auto Loans in Tacoma (WA)

Bad credit. It’s a headache. Luckily, we have partnered with bad credit car dealerships in Tacoma.

All you have to do is complete this simple form, and we will place you with a car lending company or car dealership willing to pre-approve you for a loan.

Bad Credit Car Dealerships in Tacoma, WA

Most car dealerships that offer in house financing, often known as buy here pay here car dealers, don’t run your credit. However, most likely they don’t report to the credit agencies, so they will not be helping you restore your credit. You are better off finding a car dealer that grants bad credit auto loans in Tacoma, Washington through a third party lender. Since you’re a higher-risk applicant, you can expect steeper rates of interest, bigger down payments, and smaller loans. On the other hand, the experience is far preferable to that of a buy here pay here car lot, and your vehicle will cost you less in both upfront costs and interest. We have many such dealers in our network, and when you submit your application, we match you with one who wants to approve your credit.

Verification Documents for Tacoma Borrowers

Any time you purchase a vehicle from a dealership, certain documentation has to be included, and if you’re suffering from bad credit, additional documentation is often required.

  • License: This enables the lender to confirm that the name on your application is accurate.
  • Proof of Income: If you are self-employed and don’t have paycheck stubs, offering income tax returns from the past couple of years is required.
  • Proof of Insurance: It’s possible to purchase this when you buy the vehicle, which means you do not need to have this in advance.
  • Proof of Residence: In case the vehicle has to be tracked down by a recovery team, lenders must be certain they know your address.
  • List of Three References: Commonly required for those who have less-than-perfect credit. They help the lender to ensure your information is up-to-date.

If this sounds like a hassle, don’t fret: it’s really easy.

Buy Here Pay Here Auto Loans in Tacoma, WA

Buy here pay here car dealers primarily help people who have serious credit problems such as repossession and bankruptcy. Generally, dealer financing isn’t direct to the consumer, in that dealerships go through banks or credit unions to offer the loans, but buy here pay here dealers make credit decisions on-site, usually with no credit check.

Regrettably, you should be prepared for inflated interest rates, expensive down payments, and high mileage vehicles that are overpriced. Is raising your credit a concern for you? Then you should submit your application through us, since BHPH dealerships won’t aid you in restoring your credit.

How Much to Pay for a Car

The dealership may be brimming with vehicles that you are capable of financing, but which you probably shouldn’t. Take a look at the following estimates, which show how much car the average Tacoma consumer can afford based on a monthly income of $1,602, a car payment that’s 8% of this income ($128), and a finance term of 60 months–the maximum length that’s advisable.

Excellent Credit Okay Credit Subprime Credit
Monthly Income $1,602 $1,602 $1,602
Monthly Payment $128 $128 $128
Interest Rate 3.50% 7.00% 11.00%
Money Down $1,761 $1,618 $1,474
Amount Borrowed $7,045 $6,472 $5,894
Interest Paid $645 $1,217 $1,795
Total Paid $9,451 $9,308 $9,163
Purchase Price $8,806 $8,090 $7,368

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