Of the 198,378 residents in Augusta, GA, approximately 78% drive by themselves to work. To do so, you clearly need to have a car, truck, or SUV, and therefore a car loan.
Unfortunately, the economic crisis has made it harder than ever to get any loan.
Anxious? You shouldn’t be. We’re here to help you get pre-approved for the loan you want. If you apply online, our software works to find you the local lender who best fits your credit score, income, and location.
Of course, this credit check will show up on your credit history. As long as you constrain a few different applications to a period of 1 to 1.5 months, then multiple credit report queries will show up as one query on your credit file.
Click this link to APPLY ONLINE!
Purchasing a Car with Adverse Credit in Augusta, GA
In Georgia, the average credit score is 668; however, 59,513 Augusta residents have issues with adverse credit. That’s 1 out of every 3 people!
Of course, consumers who have poor credit scores need car financing just like everyone else. We’re able to help you get accepted, in spite of bad credit.
There are 2 primary hurdles that anybody who needs to finance a car or truck with a bad credit score has to get past.
- Loan Acceptance
- Low Annual Percentage Rates
We allow you to do both. When you submit your application, we don’t just try to match you with a car finance company happy to accept your application, but we also provide you the knowhow you need to learn what rate your credit warrants. This is paramount, as potential buyers who what rates they deserve can be beguiled into overpaying. It’s quick, easy, and totally free. Please click here to Get Started.
Car Loan Approval For Augusta Consumers
Let’s consider a couple of strategies to help you maximize your odds of approval.
- Draw up a Budget: Really try not to spend greater than 10% of your overall income or 36% of your monthly debt payments toward automotive costs.
- Offer up a Down Payment: Offering a down payment of at least $500 can reduce the risk of negative equity and decrease the amount of the loan.
- Get Someone to Cosign: Asking a friend or relative with a good credit score to cosign your Augusta, GA car financing package can lessen your rate of interest substantially.
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Budgeting For Your Investment
In Georgia, the average income is $42,178. In Augusta, it’s $14,732. Many industry experts recommend that you commit at most 10 percent of your gross salary on car-related expenses. Included in this are your car payments, as well as fuel, insurance premiums, and maintenance.
Ten percent of Augusta average income comes out to $197. The overall amount to which this equates will depend on an array of factors: interest rate, length of term, credit rating, etc. With that being said, we can supply you with some general figures. These figures are for 5 year new auto loans in Augusta, Georgia. Generally speaking, the rates of interest for a used vehicle are going to be somewhat more. The more expensive figure is referring to bad credit, while the cheaper payment represents car loans with good credit.
- $190 – $270: $10,000
- $375 – $525: $20,000
- $475 – $650: $25,000
- $650 – $900: $35,000
- $750 – $1000: $40,000
Not affordable? The fastest way to reduce what amount you owe per month is to increase your auto loan to 6 or even 7 years.
Also, don’t forget that you can take away any money you put down from your car’s price tag to establish the loan amount.
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Auto Loans, No Money Down
There are 0 down car lots in Augusta, GA. Unfortunately, such deals end up being a bad idea.
Far too many Americans are upside down on their car loans. Down payments are a guaranteed method for preventing the negative equity auto loan. If you need an auto loan with bad credit in Augusta, GA, down payments are sometimes required.
Buy Here Pay Here Car Lots in Augusta, GA: Be Warned!
Buy here pay here car dealers, which furnish in house loans, are popping up in Augusta, GA. This isn’t really a big surprise. These car lots cater to individuals in Augusta, GA, who are looking for:
- Car Loans after Bankruptcy
- Car Loans after Repossession
- Car Loans after Foreclosure
Buy here pay here car lots, also referred to as tote the note, we finance, or your job is your credit car lots, offer car loans with no credit check for Augusta residents. But you’ve got to watch out. The rates of interest are inflated, and it’s too easy to get upside down with this type of car loan.
If you have seriously terrible credit, getting an in-house auto loan from one of these car dealerships may well be the only alternative. Having said that, we have noticed that a lot of people believe that their fico score is worse than it really turns out to be. You will most likely not need a no credit check loan.