Auto Loans in New Albany (IN)

Are you wary of purchasing a car due to credit problems? We’d be happy to help. Our company assists shoppers in New Albany daily who want to get approval online for financing. We place your application with a finance specialist whose goal it is to get you approved for the car loan you need.

You Decide: New or Used Car in New Albany

We take pride in helping people finance both new and used vehicles. New cars are known for lower annual percentage rates and fewer maintenance problems than those that are used, and and you can sometimes finance them at lower interest rates. If you want to secure a low interest car loan, though, you’ll need a credit score that’s virtually perfect. If you’re not sure, a vehicle finance specialist could help you decide whether a new our preowned vehicle would fit you best.

Used Car Loans in New Albany

In today’s market, a car or truck with some miles under its belt winds up being a better option than a new one.

The shorter finance terms typical of used autos typically translate into less total interest, even if you’ve got a less affordable rate of interest. Worried you’ll face repairs and maintenance issues? This can be alleviated by looking for a late model vehicle or investing in a new service contract. It is a good idea to hire an auto mechanic to check the vehicle prior to purchase, or consider a used car that has passed an official evaluation, for instance a certified preowned car or truck.

Financing a Car in New Albany with Bad Credit

If you’ve got first-class credit, you’ll probably have the benefit of very low annual percentage rates and advantageous terms. Unfortunately, a lot of us have been left with credit problems stemming from the financial climate. So many shoppers think they have no choice but to get approved by a buy here pay here dealer in New Albany, because of a bankruptcy or other issues of this nature, but this is seldom the only option. Through us, you can contact a vehicle financing specialist from a dealer or lender in your zip code who is willing to approve your credit.

Does Your Credit Report Contain Errors?

Reports have revealed that 20% of consumers have an inaccuracy on their credit report, most of which result in a reduced credit score

You should look at your credit history at least once a year. Not doing so could contribute to higher rates, scaled-down loans, and less chance of approval.

Buy Here Pay Here Dealerships in New Albany, Indiana

When you have experienced bankruptcy or repossession, a buy here pay here dealer could very well appear to be a smart move. It’s true, they do not check your credit, so bad credit probably won’t be a hindrance to approval, but odds are you’ll pay too much for this privilege.

Typically, preowned cars and trucks are the only models for sale, and these are not zero down car deals. Normally, the down payment matches what the dealer paid for the vehicle, and you could wind up paying in excess of 20% APR. There is a good reason that these retailers don’t have a good reputation. Let us match you with subprime finance specialist who can get you the loan you need, not matter your credit.

New Albany Consumer Profile

  • Yearly Income: $19,045
  • Monthly Income: $19,045
  • Ideal Car Payment: $79 to $159 (5-10% of monthly income)

Are you wondering how much car you can finance? Check the estimations below, but remember that the lending rates have been approximated, and the figures are derived from an income of $19,045 annually, the New Albany average. Loan length is 60 months.

Exceptional Credit Fair Credit Poor Credit
Monthly Income $1,587 $1,587 $1,587
Payment Amount $127 $127 $127
Interest Rate 3.30% 6.50% 10.50%
Purchase Price $8,767 $8,111 $7,383
Money Down $1,753 $1,622 $1,477
Total Interest $604 $1,129 $1,711
Total Paid $9,371 $9,240 $9,094