Auto Loans in Kennewick (WA)

If you’re interested in a new car, there is a high probability you are going to need a car loan.

We have access to an extensive network of dealers and lenders,

and we have finance professionals hoping to finance your purchase. Generally, we can match consumers with an interested lender or dealer even if they have credit problems on account of bankruptcy or repossession.

New and Preowned Auto Loans in Kennewick

Many people would prefer to buy a new car versus a pre-owned one because of fewer maintenance concerns and, in some instances, lower monthly payments on account of longer, 60-72 month financing options.

Still, there are disadvantages you need to be aware of.

  • Steep depreciation.
  • Costs more over time.
  • Larger down payments necessary.
  • Negative equity is typical.

Obviously, a new car is far more exciting than a used one. In the end, you have to decide which is best.

Financing a Preowned Vehicle in Kennewick

Typically, a vehicle that’s a few years old is a better option than a new one.

Preowned vehicles command higher interest rates, but down payments are much less than what they are for new vehicles of the same price. A lot of lending companies, however, will only finance cars from actual dealerships, not from individual sellers. All in all, you may wind up congratulating yourself for buying a preowned vehicle.

Bad Credit Car Loans in Kennewick

When you’ve got less-than-perfect credit, bank financing normally isn’t an option. No one likes to deal with a credit denial. For this reason it is important to get in touch with a company in Kennewick that works with non-prime credit.

We have the solution. At Evergreen Auto Finance, we are experts in serving consumers with credit problems of all kinds, helping them secure the loans they need.

You want to buy a vehicle that fits your auto loan, not the opposite, and your finance specialist should help you choose a fitting vehicle.

Your dealer may require you to present documentation that confirms:

  • How much you earn.
  • Where you live.
  • Whether you carry insurance coverage.

Make sure that your monthly payment isn’t over 10% of your income. For a person making the Kennewick average of $4,467 on a monthly basis, this would be $447. Calculating this based on your own income is simple enough. All you have to do is multiply your monthly income by .10 to get this number.

Kennewick Buy Here Pay Here Car Lots

If you’ve got substantial credit problems stemming from issues like bankruptcy or foreclosure, buy here pay here financing might possibly seem like a good plan. These dealers will approve almost anyone, no matter their credit, but there are drawbacks. The fact is, you can expect exorbitant interest rates, massive down payments, and well-used vehicles that are steeply-priced. Is raising your credit a priority for you? Then you are better off applying through us, since buy here pay here dealerships can’t help you increase your credit.

Kennewick Income and Finances

  • Income Per Annum: $53,607
  • Income Per Month: $53,607
  • Average Car Payment: $491
  • Suggested Car Payment: $223 to $447 (5-10% of monthly income)

Below we have a chart depicting what car can be afforded with a payment amount of $357, 20% down payment, and 5-year term.

Prime Credit Okay Credit Poor Credit
Monthly Income $4,467 $4,467 $4,467
Monthly Installment $357 $357 $357
Rate 3.80% 7.00% 10.20%
Car Price $24,375 $22,559 $20,927
Money Down $4,875 $4,512 $4,185
Total Interest $1,942 $3,394 $4,700
Total with Interest $26,317 $25,953 $25,627

Complete Your Application Online!

If your credit score isn’t ideal, don’t worry. A finance manager will guide you through the approval process, helping you get financed at an affordable rate of interest.