There are 163,844 people today living in Tempe, AZ, and day after day, almost 75% drive themselves to their place of work, while another 13% car pool. For this, you need a car, truck, or SUV, and for 75% of the population, that means an auto loan.
Be that as it may, Arizona loan creditors have toughened up their acceptance criteria; as a result, your credit scores have to be a lot better than they used to be.
But we can help you get approved. When you apply online, our Approval Maximization Engine works to find you the local lender which best suits your credit score, income, and location.
Zero hassles. Zero costs. Zero commitments.
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What Amount Can You Afford?
When shopping for a car, following a good budget is critical. It is advisable to speak with a good financial adviser. Having said that, we can provide several recommendations catered to Tempe’s average income, debt, and insurance amounts. Bear in mind, these are average statistics.
- Income: $30,352
- Monthly Debt Payments: $869
- Monthly Vehicle Budget: $253 (10% of Income)
The size of the car loan to which this equates is based on numerous factors: interest rate, length of term, credit scores, etc. With that being said, we are able to offer up certain approximations. These approximations are for 5 year new car loans in Tempe, Arizona. If you would like to purchase a used vehicle, the car finance rates and payments are likely to be slightly more expensive. The higher-priced payment refers to bad credit auto loans, while the less expensive number refers to excellent credit car loans.
- $100 – $130: $5000
- $140 – $195: $7500
- $190 – $270: $10,000
- $275 – $400: $15,000
- $375 – $525: $20,000
- $475 – $650: $25,000
- $650 – $900: $35,000
- $950 – $1300: $50,000
Not affordable? One of the easiest ways to decrease the amount you owe on a monthly basis is to extend your car loan to 72 months or more. Additionally, bear in mind that your down payment is going to lower the loan amount.
Tempe (AZ) Subprime Auto Loans
Need to find a finance company that can finance cars for people who have low credit scores? Don’t get discouraged. After all, you aren’t the only one – that’s a given. In Arizona, the average credit score might be 659, yet as many as 1 in every 3 people who live in Tempe are struggling with below-average credit. That’s 49,153 people!
If you need auto loans with bad credit, our Approval Maximization Engine is perfect.
There are a couple of primary hurdles that any person who needs to finance a car with bad credit will have to cross.
- Loan Acceptance
- Low Annual Percentage Rates
We enable you to do both. Once you submit your application, we don’t just attempt to connect you with a loan company eager to approve your application, we also teach you how to establish what annual percentage rate you deserve. This is key; consumers who what APRs they deserve are all too often misled into overpaying.
It is speedy, easy, and free. Click here to Get Started.
Car Financing Acceptance For Tempe Consumers
Let’s consider a couple of guidelines to help you optimize your odds of getting approved.
- Have a Financial Plan: Do not spend in excess of 10% of your total income or 36% of your monthly debt payments toward car payments and upkeep.
- Supply Money at Signing: Supplying at least $500 down can prevent bad equity.
- Find Somebody to Cosign: Finding somebody with a good credit score to cosign your auto loan increase your viability as a loan candidate appreciably. This is of utmost importance when you need a bad credit or no credit car loan in Tempe, AZ.
Click the link to Apply Online!
Do I Need a Down Payment?
Yes and no. There are 0 down car dealers in Tempe, AZ. But the question for you is this: should you get a car loan with zero down payment? Vehicles drop in value the moment you purchase them. Upfront cash is a simple and easy way of avoiding the upside down car loan.
If you’re considering car loans for individuals with poor credit, you may have no choice but to provide some cash upfront.
Buy Here Pay Here Car Lots in Tempe, AZ: Beware!
Have you seen all of the buy here pay here car lots cropping up in Tempe and across Arizona? This comes as no big surprise. These types of car lots accommodate folks who’ve got terrible credit, not to mention those needing auto loans following chapter 7 bankruptcy, home foreclosure, and even repossession. While a bank might immediately refuse these loan applicants, a buy here pay here or your job is your credit car dealership can get them behind the wheel (for a price). The interest levels can be exorbitant, and the risk of negative equity is rather significant. We encourage you to apply online with us before you arrange buy here pay here financing.