Auto Loans in Elizabethtown (KY)

In Elizabethtown, there are several options for getting an auto loan, but few if any companies have simplified credit acceptance like us. We have access to a vast network of dealers and lenders, and we specialize in getting you approved by the dealer who is most likely to fit your needs. Let us match you with a finance specialist who can help you line up the loan you need for the vehicle you desire.

Auto Finance Rates in Elizabethtown

Lenders would not make enough money to survive if they provided auto loans for people who failed to make their payments. Consequently, the healthier your credit, the more affordable your interest rate will be. To see the impact of your credit score on your auto loan, check out this chart.

Below, we’ve compared the identical auto loan at 3.50% and 12.00% APR:

Excellent Credit Bad Credit
Size of Loan $13,152 $13,152
Interest Rate 3.50% 12.00%
Duration 5 years 5 years
Finance Fees $1,203 $4,402

It’s very difficult to approximate your interest rate without information such as your credit score and income. Take a moment to complete your application, then work with a finance professional to check personalized rates.

Used Car Auto Loans in Elizabethtown

If you want to minimize the effect of your purchase on your monthly budget, finance a used car. Considering they have undergone that immediate depreciation, preowned vehicles require less expensive down payments, ordinarily just 10% in contrast to the 20% typical of new cars. Even if you are under water on a preowned vehicle, it will typically be for a shorter amount of time. If you want to combine the budget-friendliness of a preowned vehicle with the reliability of a brand new one, consider getting a used vehicle that has been scrutinized and certified by the manufacturer itself.

Buying a Car with Bad Credit in Elizabethtown

Credit score is crucial when trying to finance a car not just in Elizabethtown, but everywhere. Has yours been through the ringer? No one likes to deal with a credit denial, so you’ll want to find a dealer or lender in Elizabethtown that approves non-prime credit.

More than likely, we can find you a dealer or lender in our network who wants to accept you as a client.

Dealerships in Elizabethtown That Finance Bad Credit

If you have bad credit, your sales rep will speak with you about financing right off the bat. If you apply through us, you can ordinarily discuss the details of your finance package on the telephone, then pick a day to select your car and complete any remaining paperwork. If at all possible, your monthly payment should be equal to just 5-8% of your gross monthly income. As an example, a resident of Elizabethtown who has a gross income of $1,644 on a monthly basis, the average, should plan to set aside no more than $82 to $132.

Elizabethtown Buy Here Pay Here Dealerships

In house financing, better referred to as buy here pay here financing, has boomed in the years after the recession, largely because so many consumers’ credit ratings suffered on account of the economic crisis. For the most part, dealer finance is sourced elsewhere, as car dealers work with banks or credit unions to provide the loans, but BHPH dealers provide car loans independently.

Problems with sort of financing include:

  • Ridiculous Interest rates
  • Inflated Down Payments
  • Overpriced Cars and Trucks
  • GPS Tracking Devices

Is elevating your credit important to you? If so, you should submit your application through us, since BHPH dealerships won’t help you increase your credit.

Loan Pre-approvals for Elizabethtown Residents

The amount you’ll be able to borrow will depend on the amount of money you’re making, and how high your credit scores are. We’ve included a chart that depicts the maximum loans for someone with an income of $1,644 per month, the average in Elizabethtown.

Credit Rating Multiplier Loan
Great Credit 10 $16,440
Decent Credit 9 $14,796
Slow Credit 8 $13,152
Bad Credit 7 $11,508
Terrible Credit 6 $9,864

Please don’t finance a more expensive car than you really need, simply because you are able to.

The amount you should put into your new car depends on several factors. The estimates listed below are derived from payments of $132, which is 8% of the average consumer’s monthly income in Elizabethtown, combined with a 20% down payment and 5-year loan. Rates of interest are simply estimates.

Excellent Credit Okay Credit Subprime Credit
Monthly Income $1,644 $1,644 $1,644
Payment $132 $132 $132
Rate 3.50% 7.00% 12.00%
Vehicle Price $9,037 $8,303 $7,391
Money Down $1,807 $1,661 $1,478
Total Interest $662 $1,249 $1,979
Total with Interest $9,699 $9,552 $9,369

Submit Your Application Here!

Let us get you behind the wheel of a new car. A finance specialist will walk you through the approval process, helping you get approved at a fair rate.