Auto Loans in Buford (GA)

Need to get approved for financing, the sooner the better? You’ve come to the right place. A growing number of dealerships, banks, and other lenders have entire departments committed to online applications, and we can help you line up your financing right from your computer. When you submit your application, our network of dealers and loan companies compete to fund your loan.

Auto Loans for Bad Credit in Buford

Our service is perfect for applicants with below-average credit. We have lenders who work with low credit, and they are ready and willing to fund your loan. Sure, the APR on your loan would be lower if you had a credit score of 700 plus, but at least we can get you in the driver’s seat of a new car. We can get you approved by a bad credit car dealer in Buford – online! Apply Online!

Variables such as credit and income have an impact on how much you can borrow. This table displays the maximum loan amount for people of various credit scores, based on the average monthly income in Buford, $3,282. Please know that these are only estimates.

Credit History Income Factor Sum
Excellent Credit 10 $32,820
Average Credit 9 $29,538
Subprime Credit 8 $26,256
Poor Credit 7 $22,974
Really Bad Credit 6 $19,692

Again, these are just estimations. For a definitive quote, you must submit your application.

Assuming you have good credit, then yes: you can typically get financed with no down payment. However, it’s a little harder for applicants with low credit scores. When dealing with subprime credit, lenders are interested in the Loan-to-Value Ratio (LTV). Divide the loan amount by the wholesale value of the vehicle. This is the LTV.

Amount Financed Vehicle Value LTV
$7500 $10,000 75%
$10,000 $15,000 67%
$17,500 $22,000 79%
$20,000 $25,000 80%

Bad credit car dealers in Buford try to keep the LTV ratio from climbing too high, typically staying in the range of about 70%. The good thing is, as the automotive market recovers, more dealers and lenders will be offering auto loans in Buford with no money down.

Submit your application, and enter a zero in the down payment field. We’ll strive to match you with a lender or dealer who can provide you with a loan, zero down payment required.

Buford Buy Here Pay Here Financing

In Buford, buy here pay here dealerships are growing by leaps and bounds, thanks to the down economy. Consumers who cannot get approved for financing because of major credit problems like bankruptcy often turn to dealerships like these. Everything is paid to the dealer directly, and the cars and trucks for sale are normally less than $10,000. Sadly, most of these car lots aren’t able to help customers re-establish their credit. Often, you would be better off applying online, so we can find you an auto loan in Buford that has lower rates and better terms.

New Car Budgeting for Buford Consumers

Let’s suppose you earn $3,282 a month–the average in Buford–and spend 8% of this paying off your loan–the ideal percentage. Check out how much car you could purchase, at several credit tiers.

Good Credit Decent Credit Poor Credit
Payment $263 $263 $263
Interest Rate 3.50% 7.00% 11.00%
Down Payment $3,608 $3,315 $3,019
Total Interest $1,321 $2,494 $3,678
Total Paid $19,362 $19,069 $18,773
Sticker Price $18,041 $16,575 $15,095