Auto Loans in Harlingen (TX)

When it comes to getting a car loan in Harlingen, few companies have improved the experience like ours has. Our company helps shoppers in Harlingen and all over the state of Texas who would like to get in touch with a bank, dealer, or finance company in Harlingen willing to approve them based on their income, credit, and down payment. Normally, we’re able to match our applicants with a willing dealer or lender in real time.

Auto Finance Rates in Harlingen

You’d probably like to know what your interest rate is going to be, wouldn’t you? First and foremost, you should know your credit score. This is the key factor. As one example of how important your interest rate is, check out these numbers.

Here is a chart that compares exactly the same auto loan at 3.50% and 10.00% APR, respectively:

Prime Credit Bad Credit
Size of Loan $10,272 $10,272
Interest Rate 3.50% 10.00%
Months 60 60
Finance Fees $940 $2,823

It is impossible to estimate your interest rate without having more details. Go ahead and complete your application, then go over rates with a finance professional.

Auto Loans for Preowned Cars in Harlingen

To reduce the chance of being under water, get a loan for a used car. The loan rates for preowned autos are marginally more expensive, but this expense is made up for in lower sticker prices and rates of depreciation. For anyone who is worried about repairs and maintenance, be sure to opt for 1-2 year old vehicle with great dependability. To help you determine which type of car meets your needs, take a look at this helpful chart. These estimates rely on the following assumptions:

  • New car costs $12,840.
  • Used vehicle is two years old.
  • Good credit score.
  • Fixed APR.
New Car Used Car
Price $12,840 $6,420
Down Payment $2,568 $642
Loan Rate 5.00% 7.50%
Months 60 48
Monthly Payment $193.85 $139.71
Interest $1,359 $928
Total Paid $14,199 $7,348

Bad Credit Harlingen Auto Loans

Old fashioned lending institutions like banks and credit unions usually fund loans only for people who have very solid credit. That is, scores of 700 or higher. Even though non-prime credit could make it tougher to purchase a new or used car, it is by no means out of the question. When you apply for financing through us, we work to place your application with a dealer or lender in your area who wants to approve you for financing.

If you have bad credit, your finance specialist will speak with you about financing straight away. If you apply through us, you can line up your auto loan ahead of time, then choose a date to visit the dealership and buy the vehicle you want. Never let yourself be persuaded into buying a vehicle which costs more than you planned. More costly payments mean higher risk of being late or even missing payments, which is about the last thing you need..

Buy Here Pay Here Car Lots in Harlingen, TX

Thinking about BHPH financing on account of bad credit? Normally, there are better options. These dealers will approve just about anyone, regardless of their credit, but there are problems with sort of financing. Problems include outrageous loan rates that border on the state’s maximums, as well as high rates of repossession That isn’t all: these car lots rarely work with the credit agencies, and that means you could make each and every payment month after month without any boost to your FICO score.

Securing Funds for a Vehicle in Harlingen: What Amount You Can Borrow

Hoping to find out what size car loan you’ll be able to obtain given your income and credit? These figures use an income of $1,284 monthly, the average for people in Harlingen.

Credit History Income Factor Amount
Excellent Credit 10 $12,840
Average Credit 9 $11,556
Slow Credit 8 $10,272
Bad Credit 7 $8,988
Really Bad Credit 6 $7,704

It’s always good to finance less than you can. This enables you to keep your costs low. Wondering how much car you can afford? Have a look at the chart below. The rates of interest are only estimations, and the figures presuppose a yearly income of $15,413, the Harlingen average. Repayment term is 60 months.

Excellent Credit Fair Credit Bad Credit
Monthly Income $1,284 $1,284 $1,284
Monthly Installment $103 $103 $103
APR 3.50% 7.00% 10.00%
Car Price $7,058 $6,484 $6,043
Down Payment $1,412 $1,297 $1,209
Note Size $5,647 $5,188 $4,835
Interest Paid $517 $976 $1,329
Price with Interest $7,575 $7,460 $7,372