Auto Loans in Kirkland (WA)

Kirkland WAWhen it comes to financing a car in Kirkland, few companies have simplified credit approval like us. For years, we’ve been building a network of dealers and lenders across the country, and that means we can help applicants get pre-approved for a car loan, even if their credit isn’t the best. Let us match you with a financing consultant who can help you get the auto loan you need for the car you desire.

New and Used Car Loans for Kirkland Drivers

Many people opt to purchase a new car versus a pre-owned one simply because they want the latest and best new thing on the street. However, if you finance a new car, you must be certain you’ll be happy keeping it until it’s been paid off. Otherwise, you could find yourself owing the bank money after the car has been traded in or sold.

The good news is, new car dealerships are keen to sell vehicles, and you can often secure a great package through the manufacturer’s own finance department, even if you have a bad credit score. Interest rates are lower for new cars,

Should You Buy a Used Car in Kirkland?

Nowadays, automobiles are built to go well over 100,000 miles, which means you can buy a late model used vehicle without worrying too much about maintenance issues, though an extended warranty or AAA coverage is nice to have as security.

Some people disregard preowned cars for having more costly rates of interest, but keep in mind that they are cheaper in upfront cash and over the long haul. For anyone who is wary of maintenance, be sure you buy a a vehicle with low mileage and excellent ratings in terms of reliability. Below, we have compiled some numbers to help you determine whether you ought to buy a new or used vehicle. This is assuming a vehicle two years old, having lost one half of its value, and a borrower with a prime credit score.

New Car Used Car
Price $35,870 $17,935
Down Payment $7,174 $1,794
APR 5.20% 8.90%
Length 5 years 4 years
Monthly Payment $544.16 $400.92
Interest $3,954 $3,102
Total Paid $39,824 $21,037

Buying a Car with Bad Credit in Kirkland

For those who have bad credit, having your auto loan signed off by a bank usually isn’t an option. Although problematic credit can make it harder to purchase a new vehicle, it is not hopeless. We can help. We are experts in serving clients with credit problems of all kinds, getting them approved for the loans they need.

Seeing as credit is your main hindrance, the salesperson at any bad credit dealership in Kirkland will have a conversation with you about financing right off the bat. To fulfill lender guidelines, you will normally need to furnish the documentation listed below:

  • Driver’s License
  • Proof of Income
  • Proof of Residence
  • Proof of Insurance

In a perfect world, your monthly payment should equate to just 5-8% of your gross income on a monthly basis. For example, a typical Kirkland consumer who gets paid $3,587 on a monthly basis, the average, should plan to shell out just $179 to $287, no more.

Submit Your Application Here!

At Evergreen Auto Finance, we’re experts at getting behind the wheel of a new car. Apply online, and we’ll get you approved. It’s fast, easy, and risk-free.

Buy Here Pay Here Financing in Kirkland, Washington

Buy here pay here dealers would love you to believe that no one but them will approve you, but this is very rarely the way it is. Such dealers grant car loans in-house, unlike traditional dealerships which outsource this, and they regard your income as a form of credit.

Drawbacks include excessive rates of interest that frequently match the state’s legal limit, as well as high rates of repossession Worst of all, these car lots don’t work with the credit bureaus, which means you could make all of your payments month after month without raising your credit score.

Kirkland Income and Finances

Although Costco is no longer headquartered in Kirkland, having moved to Issaquah, the city has maintained a relatively strong economy.

  • Income Per Annum: $43,038
  • Income Per Month: $43,038
  • Typical Car Payment: $395
  • Suggested Car Payment: $287 (8% of monthly income)

How much you should invest in a new car or truck depends on many variables. The estimations listed below are based upon a monthly payment of $287, which is 8% of the average consumer’s monthly income in Kirkland, combined with a 20% down payment and 5-year repayment terms. Lending rates are simply estimates.

Good Credit Decent Credit Subprime Credit
Payment Amount $287 $287 $287
Interest Rate 3.80% 7.00% 10.20%
Months 60 60 60
Sticker Price $19,573 $18,115 $16,804
Money Down $3,915 $3,623 $3,361
Total Interest $1,559 $2,726 $3,774
Total with Interest $21,132 $20,841 $20,578