Do you know that about 70-75 percent of new vehicles are not paid for in cash? This means any time you’re looking to buy a car in GA, odds are you need to look for an auto loan.
But finding the car loan you need is no picnic, not lately. Not with this recession.
The good thing is that we utilize a vast circle of Georgia car lenders and dealers provide the ability to sign up for car loans via the internet. If you were to head over to one creditor or dealer at a time, it may well take weeks, or even months to get the GA auto financing package you require – and in particular when you are plagued by credit drawbacks like:
- Consumer Bankruptcy
- Loan Delinquency
- Overdue Bills or Deliquent Installment Payments
With our website, however, you’ll find the car loan that you need at the price to suit your budget – online!
Just click here to Apply Online.
Your Vehicle Budget
It is imperative to have a financial plan and stay with it. Your best bet is to speak with a financial adviser. However, we can provide a few suggestions catered to Georgia’s average income, debt, and insurance numbers. Keep in mind, these are simply averages.
- Income: $42,178
- Monthly Debt Payments: $789
- Monthly Car Budget: $284 (36% of Debt)
- Monthly Insurance Premiums: $87
- Leftover Funds For Auto Payments, Gas, Repair: $197
The loan amount this represents depends upon several different criteria, like rate of interest, number of installments, credit scores, etc. But we are able to supply you with various general figures. These figures are for 5 year new car auto loans in Georgia. More likely than not, the interest rates on a used car or truck are going to be somewhat steeper. The more expensive number is for car loans with bad credit, while the less costly payment is for car loans with good credit.
- $475 – $650: $25,000
- $850 – $1200: $45,000
If you want lower monthly payments, you could choose a 72 month loan or even longer. At the same time, remember that your down payment should reduce the amount of the loan.
Financing a Car When You Have Subprime Credit in GA
Ever wondered just how many people in your state have bad credit? We have provided some approximate figures just below. Don’t forget, a credit score of under 620 will be categorized as poor credit.
Credit Rating of…
- 300 – 499: 193,753 Residents
- 500 – 549: 484,383 Residents
- 550 – 599: 775,012 Residents
- 620 or less: 2,421,913 Residents
Why is it hard to secure a car loan for bad or no credit? Lenders review your fico scores in order to analyze whether you’re a good candidate for a loan. Granting you a car loan is an investment, and the the more likely you are not to repay the amount you borrow, the less likely they are to make a profit on this particular investment.
There are a couple of key obstacles that any person who needs to get a car or truck with poor credit has to surmount. First and foremost, you have to be approved. Second, you must get an affordable interest rate. We we help you with both of these. When you apply online, we don’t just attempt to connect you with a lender who is willing to pre-approve you for financing, but we also allow you to figure out what annual percentage rate your credit warrants. This is key, as prospective buyers who don’t know any better are all too often bamboozled into paying too much.
Click here to APPLY ONLINE.
Car Loans Without a Cosigner in GA
Although cosigners aren’t absolutely mandatory, finding a relative with good credit who is willing to cosign your loan could drastically increase your chances of approval.
Bear in mind that cosigning a car loan is a huge obligation. That’s because, if you can’t completely pay down your loan, the individual who cosigned will be legally required to pay off the loan amount. That’s the reason cosigning an auto loan is a major commitment.
Buy a Car with Zero Down Payment: Possible?
It depends. You can get no down payment car and truck loans in Georgia. All too often, such deals turn out to be a bad idea. Vehicles depreciate as soon as you buy them. A payment in advance will keep you from being upside down on your loan. When you need an auto loan with subprime credit scores in GA, you might have no alternative but to offer a payment in advance.
Buy Here Pay Here Dealers in GA: Bad Idea?
Buy here pay here car dealers have been cropping up in Georgia. These car dealerships help men and women who need:
- Auto Loans with Bankruptcy
- Auto Loans with Repossession
- Auto Loans with Foreclosure
Buy here pay here car lots, also referred to as tote the note, we finance, or your job is your credit car dealers, offer no credit check car loans in GA. But you have to watch out. The interest levels tend to be exorbitant, and the risk of negative equity is quite high. If you’ve got truly horrendous credit, acquiring an on site auto loan from one of these dealerships might be your sole alternative. However, we urge you to apply online with us before you commit to a buy here pay here loan.
Go here to apply online.