Auto Loans in Renton (WA)

There are a number of ways of getting approved for an auto loan in Renton, but few if any companies have optimized credit approval like we have.

Our industry partnerships are unequalled, and we are experts in matching you to the dealer who suits you best. You can expect to be walked step-by-step through the auto financing process by a financing specialist near you.

Financing a New Car in Renton

We help people get approved for both used and new cars and trucks. Used cars and trucks can be a challenge, because you have to worry about getting a car with problems. New cars, in contrast, are likely to offer you thousands of miles of hassle-free cruising. But bear in mind that the bulk of the low APR car deals advertised on television are subject to credit approval, so you will need a fantastic credit score to be approved. Ultimately, it’s best to talk with a dealer finance professional to decide if a new our used vehicle is best for you.

Used Car Financing in Renton

You can purchase a car a couple of years old and still have a dependable, fuel efficient vehicle.

Used car loans are often paid off more quickly than new ones. This typically means less interest charged, even if you’ve got a less affordable rate of interest. Maintenance issues can be allayed by selecting a vehicle that is still covered by its factory warranty or obtaining a new warranty. Below, you will find the following figures that may help you decide whether it’s best to get a new or used vehicle. These estimates are based on the following assumptions:

  • Used vehicle is two years old.
  • Credit score of 690 to 720.
  • Simple Interest.
New Car Used Car
Price $36,900 $18,450
Down Payment $7,380 $1,845
APR 5.20% 8.90%
Years 5 4
Monthly Payment $559.79 $412.43
Interest Paid $4,067 $3,192
Total Paid $40,967 $21,642

Bad Credit Renton Car Loans

Banks typically fund loans only for people with very solid credit ratings. That is, scores of 700 at minimum. Nobody likes to deal with being rejected by a bank or finance company, so it’s important to contact a company in Renton that approves low credit scores.

When you apply for financing through Evergreen Auto Finance, we work to find you a dealer or lender in our network who wants to approve your credit.

Cleaning up Discrepancies on Your Credit Report

Errors on credit reports have become pretty widespread. Have you ensured that your credit report is devoid of inaccuracies?

It’s best to pull your credit history no less than one time each year. Neglecting to take action could result in higher rates, smaller loans, and less chance for approval.

Buy Here Pay Here Auto Loans in Renton, WA

Have you considered heading to a buy here pay here dealer to get approved? Typically, there are more attractive options. It’s true, they don’t perform credit checks, meaning bad credit probably won’t be an impediment to approval, but you will really pay for this in the end. Drawbacks include outrageous interest rates, money down, and vehicle prices Because of this, these dealerships don’t have an outstanding track record. We want to place you in the hands of subprime finance specialist who will work with you, even if you’ve been through bankruptcy.

Renton Income and Finances

  • Annual Income: $44,281
  • Income Per Month: $44,281
  • Typical Car Payment: $406
  • Recommended Car Payment: $295 (8% of monthly income)

Buying a Car in Renton: How Much Can You Afford?

Here we have a table depicting what car can be afforded with a payment per month of $295, 20% down payment, and 5-year term.

Prime Credit Okay Credit Bad Credit
Monthly Income $3,690 $3,690 $3,690
Monthly Installment $295 $295 $295
Interest Rate 3.80% 7.00% 10.20%
Months 60 60 60
Vehicle Price $20,135 $18,635 $17,287
Down Payment $4,027 $3,727 $3,457
Amount Borrowed $16,108 $14,908 $13,830
Interest Paid $1,604 $2,804 $3,882
Total with Interest $21,739 $21,439 $21,169

Ready to Get Rolling?

If you have damaged credit, don’t fret. There isn’t a fee to apply, and you could be choosing your new vehicle within 24 hours.