Have you been considering getting your car loan pre-approved? You ought to, given that it addresses almost all of the stumbling blocks from the car-buying process. As opposed to waiting until you are in the dealer’s financing office, we enable you to apply for financing ahead of time. It really is difficult to find an easier way to line up the financing you need.
Casper Car Lots for Bad Credit
Car dealers that have the expertise to arrange sub-prime financing are often known as bad credit car dealerships. Generally, these types of dealerships offer:
- More affordable APR rates.
- Lower down payments.
- Both new and used vehicles.
The specific models you’re eligible for will be decided by how much you earn per month, as well as what your credit score is. It’s best to consider an economical, reliable vehicle with payments that amount to just 10% of your income–any higher, and you may find it hard to make your payments on schedule. If you earn $1,033 monthly, this comes to a payment of $103.
Submit your application to find out how much car you can afford.
New vs. Pre-owned Vehicles
New or used? It’s up to you. A new vehicle loses 20% of its value during the first year of ownership, and after 3 years, 50%, meaning you can often get a better deal when you buy used.
|New Car||Used Car|
Casper Buy Here Pay Here Dealerships
The buy here pay here industry would love you to think that you can’t get approved anywhere but with them, yet this is rarely the way it is. These dealers will approve pretty much anybody, no matter their credit, but there are negatives.
You’ll find that used autos are the only thing on the lot, and you may need to have a GPS unit mounted in your vehicle. Rates of repossession are high, and so are the interest rates. For this reason, these retailers have a bad track record. Let us put you in touch with a reputable dealer who can get you the funds you need, not matter your credit.
Guidelines for Buying a Car in Casper
Generally speaking, you want to allocate no more than 10% of your monthly income for the payment on your new car. Simultaneously, you don’t want to get a loan for over 5 years. If you observe these guidelines, you will end up financing a car or truck which costs approximately 50% of what you make per year (pre-tax). Here in Casper, where the average income is $12,401 a year, this would be $6,198 to spend on a car. Cars and trucks, unless they have collector value, are never good investments, considering how quickly they begin losing value the second they’re bought, so it’s best to fork out as little as possible to get a car that won’t cost you a lot in undue maintenance.