Auto Loans in Lakewood (WA)

Cars have become increasingly expensive over the years, so it is essential to arrange your financing through a lender who suits your credit.

We do business with a wide network of dealers and lenders, and we are dedicated to getting you approved by the lender that is most likely to fit your needs. You will be guided step-by-step through the process by a financing specialist in your area.

Auto Loans in Lakewood for New Vehicles

When you’re looking to purchase a new car, you should do so on condition that: You are able to offer a down payment of 20%, and you don’t plan on swapping out this vehicle before the finance term comes to an end. An auto loan is a bigger responsibility than a lease, but once the vehicle is paid off, you own it.

Used Car Auto Loans in Lakewood

Preowned autos provide several different important merits:

  • Less has to be financed.
  • Reduced insurance rates.
  • Shallower rate of depreciation.

Auto loans for used cars are often paid off more quickly than new ones. This typically means less interest accrued, even when you’ve got a higher apr rate. A lot of loan companies, however, will only finance cars from actual dealerships, not from individual parties. In the long run, a used vehicle will put less strain on your budget.

Lakewood Bad Credit Car Loans

Traditional lenders like banks typically fund loans only for people with scores of 700 at least. Far too many people turn to a buy here pay here car dealership in Lakewood, because of a bankruptcy or foreclosure, but it’s likely that you can get financed at a more affordable rate from a better company.

Fortunately, we serve clients who have credit problems of all kinds, getting them the loans they need.

Dealerships in Lakewood That Finance Bad Credit

If you have a favorable credit record, to start with you will explore the many cars and trucks that are for sale. If you have bad credit, however, you will spend more time discussing your interest rate, lending terms, and down payment.

To get the lowest rate possible, you’ll want to ask the dealer the buy rate. This is the rate offered by the lender before the dealership adds extra points for setting up the loan. You shouldn’t be persuaded into buying a car that costs more than you planned. Bear in mind, you’ve got a credit score to re-establish.

Lakewood Buy Here Pay Here Dealerships

In house financing, otherwise known as buy here pay here financing, has grown in recent years, largely due to the fact that so many people’s credit scores suffered on account of the housing market and slow economy. These dealerships grant financing on site, while most dealers contract this, and they regard your income as a form of credit.

The fact is, you will be faced with excessive interest rates, huge down payments, and vehicles that are too expensive for their condition. For this reason, these dealers have a bad reputation. Let us match you with a reputable dealer who can get you behind the wheel of an excellent vehicle, even if you’ve experienced bankruptcy.

Lakewood Income and Finances

  • Annual Income: $19,528
  • Monthly Income: $19,528
  • Typical Car Payment: $179
  • Suggested Car Payment: $81 to $163 (5-10% of monthly income)

Below we have a table displaying what car you can afford with a payment of $130, 20% down payment, and 60 month term.

Excellent Credit Okay Credit Subprime Credit
Payment Amount $130 $130 $130
Rate 3.80% 7.00% 10.20%
Purchase Price $8,878 $8,217 $7,622
Money Down $1,776 $1,643 $1,524
Interest Paid $707 $1,236 $1,712
Total with Interest $9,585 $9,453 $9,334