Auto Loans in Wenatchee (WA)

If you are interested in a new car, you probably will need a car loan to cover the full cost of the vehicle.

We do business with a diverse network of lenders and dealers,

and we have agents approve you for the financing you need. We will match you with a lending specialist who can help you line up the auto loan you need for the vehicle you prefer.

New Vehicle Financing in Wenatchee

For those who are considering a new car, you should do so on condition that: You have the cash or equity to offer a down payment of 20%, and you don’t plan on trading in this vehicle before you’ve paid it off. We can help you finance a new car in Wenatchee even if you don’t meet these criteria, but you should probably look at a preowned vehicle.

Financing a Used Vehicle in Wenatchee

In today’s times, automobiles are built to go well over 100,000 miles, which means a used car or truck is not such a problem from a maintenance standpoint.

Considering that they’ve already been through that first depreciation, preowned autos require lower down payments, generally 10% of the vehicle’s purchase price. For anyone who is concerned about repairs and maintenance, make sure to buy a low-mileage vehicle with good ratings in terms of dependability. Below, we have assembled some numbers that may help you determine if it’s best to purchase a vehicle that’s new or used. These numbers are based on the following assumptions:

  • New car costs $21,800.
  • Used vehicle is two years old.
  • Prime credit score.
  • 20% down payment for new car, 10% for used.
  • Fixed APR.
New Car Used Car
Price $21,800 $10,900
Down Payment $4,360 $1,090
Interest Rate 5.20% 8.90%
Months 60 48
Monthly Payment $330.71 $243.66
Finance Charge $2,403 $1,886
Total Paid $24,203 $12,786

Buying a Car with Bad Credit in Wenatchee

Bad credit contributes to the following:

  • Inflated interest rates.
  • Higher down payments.
  • Shortened lending terms.

You don’t want to deal with having a loan application rejected, and therefore you’ll want to find a dealer or lender in Wenatchee that provides auto loans for problematic credit.

More often than not, we can place your application with a dealer or lender in Wenatchee who wants to fund your loan.

It’s true: a car loan, if paid as agreed, can improve your credit score and show lenders that you have matured beyond your past troubles. As a way to prevent missed payments, consider having your car payment drawn straight from your checking account. Settling on the ideal payment amount is crucial. For instance, let us suppose you earn $2,180 per month, the average for Wenatchee residents.

  • Low Payment: $109 (5%)
  • Intermediate Payment: $174 (8%)
  • Maximum Payment: $218 (10%)

Buy Here Pay Here Auto Loans in Wenatchee, Washington

For people with dealt with bankruptcy or foreclosure, buy here pay here financing could very well seem like a realistic approach. They won’t perform credit checks, which means bad credit shouldn’t be an impediment to getting approved, but you will wind up paying quite a lot for this. Unfortunately, you can look forward to excessive interest rates, high down payments, and cars and trucks that cost too much given the kind of shape they’re in. As if that weren’t enough of an issue, these car lots rarely report to the credit agencies, and that means you could make all of your payments on time with no boost to your FICO score.

Wenatchee Income and Finances

  • Gross annual Income: $26,160
  • Income Per Month: $26,160
  • Ideal Car Payment: $109 to $218 (5-10% of monthly income)

The total amount you should put into a new car or truck hinges on several variables. These numbers are based upon a monthly payment of $174, which is 8% of the average consumer’s monthly income in Wenatchee, along with a 20% down payment and 60 month loan. Annual percentage rates are simply estimates.

Great Credit Decent Credit Poor Credit
Monthly Income $2,180 $2,180 $2,180
Car Payment $174 $174 $174
Interest Rate 3.80% 7.00% 10.20%
Years 5 5 5
Purchase Price $11,895 $11,009 $10,213
Down Payment $2,379 $2,202 $2,043
Total Interest $948 $1,656 $2,294
Total with Interest $12,843 $12,666 $12,507

Ready to Get Started?

There are lenders and dealers who are waiting to approve you for financing. Apply online, and we’ll get you approved. It’s quick, easy, and secure.