Car Loans in Columbus (GA)

Car Loans Columbus GA

More than 193,393 men and women are now living in Columbus, GA, and about 90% of them get to work each day by car, either alone or car pooling. This means they need a car, truck, or SUV, and for many people, that means finding a car loan.

That said, Georgia loan creditors have tightened up approval guidelines, so your debt to earnings percentage must be much better than ever. You can thank the recession for this.

Auto Loan in Columbus, GA
Quick Acceptance!

That is why we built our Approval Maximization Engine (AME). As soon as you apply online, our software works to find you the local lender that best fits your needs.

We are paid by the loan companies themselves for connecting them with candidates. Why should that matter to you? Because it means absolutely no fees. Zero.

Visit here to Apply Online.

Purchasing a Car When You Have Adverse Credit in Columbus, GA

The number of men and women in Columbus, GA, who will need bad credit auto loans to finance their vehicle is shocking. Remember, subprime credit is defined as credit scores of 620 or lower.

Fico Scores of…

  • 300 – 499: 3,868 Residents
  • 500 – 549: 9,670 Residents
  • 550 – 599: 15,471 Residents
  • 620 or less: 58,018 Residents

Why is it difficult to find an auto loan for poor credit? Lenders look at your credit scores as way to evaluate risk. Granting you a car loan is an investment, and the more risk there is of you not paying off the loan, the more likely they are to find themselves in the red on this particular investment.

When you apply online for bad credit auto loans in Columbus, GA, our leading-edge data placement system attempts to match your application form with a finance company who finances bad credit ratings.

It is swift, simple, and free. Click here to Apply Online!

Car Loan Acceptance For Columbus Applicants

Let’s consider a couple of ideas to help you increase your odds of approval.

  • Know What You Can Spend: Don’t allocate in excess of 10% of your gross income or 36% of your monthly debt payments toward automotive costs.
  • Put Money Down: Back when credit was easy to get, we were used to no down payment loans. In today’s market, we need to be more careful of risks such as negative equity. Offering 5-20% down can help you steer clear of upside down equity and decrease the amount of the loan.
  • Get a Cosigner: Getting a friend or relative who has a favorable credit record to cosign your loan can reduce your rate of interest considerably.

Click this link to Apply Online.

Determining Your Payments

Did you know that the average income in Georgia is $42,178, while in Columbus it’s $16,677? Generally, we advise that you budget not more than 36 percent of your monthly debt payment. In Georgia, the minimum monthly debt payment, on average, is $789, 36% of which is $284. If we take away $87 for Georgia’s monthly insurance premiums, we have $197. Month-to-month debt payments include things like:

  • Home Loans/Rent
  • Credit Card Payments
  • Car And Truck Loans

The total amount to which this equates is based on an array of conditions, such as annual percentage rate, length of term, credit scores, etcetera. However, we can offer a few approximations for 5 year new car loans in Columbus, Georgia. If you are going to get a pre-owned car, the APR’s will be a bit more expensive. The larger figure is referring to car loans with bad credit, while the more inexpensive payment relates to good credit auto loans.

  • $7500: $140 to $195
  • $12,500: $230 to $325
  • $15,000: $275 to $400
  • $25,000: $475 to $650
  • $30,000: $550 to $775
  • $40,000: $750 to $1000
  • $50,000: $950 to $1300

Less budget-friendly than you thought? One of the easiest ways to reduce the amount you need to pay every month is to prolong your car loan to 6 years or more.

In addition, keep in mind that putting money down is going to lessen the amount you need to borrow.

Follow the link to apply online!

Auto Loans Columbus GA

Do I Need a Down Payment?

Yes and no. You can find no down payment dealerships in Columbus, GA. However, these aren’t always advised.

Way too many people in the US are upside down on their car loans. But if you have given a down payment, you can usually, if you want to, sell your vehicle to pay back the loan amount.

If you’d like an auto loan with poor credit in Columbus, GA, approval could be contingent upon whether you can provide a predetermined amount of cash upfront.

Buy Here Pay Here Car Lots in Columbus, GA: Caution?

Car Loan in Columbus, GA
Get Pre-Approved!

Buy here pay here dealers have been cropping up in Columbus, GA. In fact, it’s pretty logical. These dealerships cater to men and women in Columbus, GA, who are need of:

  • Auto Loans with Bankruptcy
  • Auto Loans with Repossession
  • Auto Loans with Foreclosure

Being approved for a bank loan would be unimaginable for individuals who have credit issues like this. Buy here pay here dealerships, meanwhile, will provide them a car loan, usually with no credit check. The interest levels tend to be exorbitant, and the danger of negative equity is pretty substantial. If you have really bad credit, getting an in house car loan from such a car lot may very well be your sole option. Having said that, we can connect you with loan companies that finance men and women with bad credit on a regular basis.

Auto Financing Columbus GA