Auto Loans in Marion (IN)

If you are searching for a new car, it’s likely that you need an auto loan. We’ve spent years securing a network of lenders and dealers across the United States, and we specialize in getting you financed by the dealer who is most likely to fit your needs. It’s difficult to imagine a more convenient way to secure the financing required for your new car.

You Decide: New or Used Car in Marion

Are you looking to finance a new car? New cars have lower annual percentage rates and fewer maintenance problems than their used equivalents, and they can often be purchased with low interest financing. However, a down payment of 20% is typically required, and you should really drive the car until it is paid off. If you’re not sure, an automotive finance specialist will help you decide if a new our preowned vehicle is best for you.

Financing a Used Vehicle in Marion

A used car or truck is a good idea for people serious about saving money. Lenders demand slightly higher rates of interest on preowned cars, but down payments are much lower than what they are for new vehicles of an equivalent value. Worried about service issues? This can be relieved by opting for a vehicle that is still covered by its factory warranty or obtaining an aftermarket warranty. Overall, you may wind up congratulating yourself for selecting a used vehicle.

Marion Auto Loans for Bad Credit

Banks typically fund loans only for people with scores of 700 or more. While subprime credit can make it harder to buy the car you want, you have several options. We have the solution. We serve consumers with credit problems of all kinds, getting them approved for the loans they need.

Dealerships in Marion That Finance Bad Credit

Seeking out a car with economical monthly payments is of utmost importance, , especially when you will have a high rate of interest due to bad credit.

To get the lowest rate you possibly can, you’ll want to ask the dealer the rate quoted by the lender better known as the buy rate. Avoid being lured into purchasing a vehicle that’s more expensive than you budgeted for. Rebuilding your credit is the top priority.

Marion Buy Here Pay Here Dealerships

Most people in Marion and throughout Indiana head for buy here pay here car lots, under the impression that they can only get approved without a credit check. Rarely is this the case. Typically, dealer financing is outsourced, as dealers work with off-site banks and lenders to provide the loans, but BHPH dealers don’t. They provide financing themselves. Typically, preowned vehicles are the only ones for sale, and you may have to pay weekly, in person. Rates of repossession are quite high, much like the interest rates. If improving your credit score is important to you, you are better off applying through us, since buy here pay here car lots won’t help you in re-establishing your credit.

Marion Income and Finances

  • Gross annual Income: $34,765
  • Monthly Income: $34,765
  • Typical Car Payment: $319
  • Recommended Car Payment: $232 (8% of monthly income)

How Much Car Can You Afford?

Auto Loans at $232 per Month

Check out this chart depicting what car you can afford with a payment per month of $232, 20% down payment, and 5-year term.

Prime Credit Fair Credit Bad Credit
Monthly Installment $232 $232 $232
Rate 3.30% 6.50% 10.50%
Car Price $16,003 $14,806 $13,478
Money Down $3,201 $2,961 $2,696
Total Interest $1,103 $2,061 $3,123
Total Investment $17,106 $16,867 $16,601

Ready to Get Rolling?

Regardless of your credit, it’s our mission to help you secure the loan you need. A finance specialist will lead you through the approval process, helping you obtain a competitive rate of interest.