Auto Loans in Bellingham (WA)

Are you wary of purchasing a car on account of less-than-perfect credit? We’d be happy to help.

For years, we’ve been establishing a network of lenders and dealers across Washington, which means we can help applicants get pre-approved for a car loan, even if their credit isn’t perfect. We connect you to a financing professional who will work tirelessly to get you financed.

New and Used Auto Loans for Bellingham Consumers

Do you have your eye on a brand new car or truck? New cars are known for lower interest rates and fewer hassles than their preowned brethren, and and you can often finance them at lower interest rates. But remember that many 0% financing offers seen in the media are with approved credit, which means that only people with first-class credit meet the requirements. If you’re undecided, speaking with an automotive finance professional will help you determine if a new our used vehicle would fit you best.

Financing a Used Car in Bellingham

In the world today, a car or truck with some mileage on it is a better investment than a new one.

Given that they’ve already been through that first depreciation, preowned vehicles necessitate lower down payments, generally 10% of the vehicle’s purchase price. Many lending companies, however, will only finance cars from actual dealerships, not from private parties. If you want the best of all possible worlds, consider a used car that has passed a manufacturer evaluation, meaning a certified preowned vehicle.

Bad Credit Bellingham Car Loans

If you have first-rate credit, you are likely to enjoy low loan rates and advantageous terms. However, a lot of us have been left with credit problems on account of the financial climate. No one likes to deal with being declined for credit, and therefore it is essential to contact a lender or dealer in Bellingham that works with problematic credit. We can help. We are experts in serving consumers who have credit problems of all kinds, helping them secure the loans they need.

An auto loan can without a doubt result in an increased FICO score. But needless to say, it’s necessary to make all of the payments without being past due.

In contrast, missing just one payment can reduce your score significantly. Determining the ideal payment amount is vital. As an example, let’s pretend you make $1,219 per month, the average for Bellingham residents.

  • 5% of Income: $61 (Ideal)
  • 8% of Income: $98 (Okay)
  • 10% of Income: $122 (Maximum)

Buy Here Pay Here Car Lots in Bellingham, Washington

Have you considered a buy here pay here dealer on account of bad credit? Usually, there are more attractive options. Sure, they do not check your credit, meaning your credit problems ought not be a barrier to getting approved, but it’s quite possible you will overpay for this service.

Sadly, you can look forward to inflated interest rates, massive down payments, and older vehicles that are overpriced. This is why these dealers have a bad reputation. We want to place you with a reputable dealer who can get you approved, even if you’ve been through bankruptcy.

Bellingham Income and Finances

  • Per-Year Income: $14,631
  • Monthly Income: $14,631
  • Typical Car Payment: $134
  • Optimal Car Payment: $61 to $122 (5-10% of monthly income)

How Much Car Can You Afford?

The exact amount you can put into your new car depends on many different factors. These numbers are based on a monthly payment of $98, which is 8% of the average consumer’s monthly income in Bellingham, coupled with a 20% down payment and 60 month loan. Rates are simply estimates.

Exceptional Credit Fair Credit Poor Credit
Car Payment $98 $98 $98
Rate 3.80% 7.00% 10.20%
Months 60 60 60
Purchase Price $6,652 $6,156 $5,711
Money Down $1,330 $1,231 $1,142
Loan Amount $5,321 $4,925 $4,569
Total Interest $530 $926 $1,283
Total Paid $7,182 $7,082 $6,993

Ready to Have Your Credit Approved?

Our company is your trusted source when it comes to financing a car in Bellingham. A finance manager will take you step-by-step through the process, helping you get financed at an acceptable rate of interest.