Auto Loans in Longview (TX)

Having your vehicle loan arranged in advance is an intelligent approach, for it makes buying a car a much more simple process. Our team assists shoppers in Longview and all over the state of Texas who would like to line up their financing online. We place your application with a financing expert who will direct you through the process.

Longview Auto Loan Rates

Your rate of interest has a tremendous influence over the amount you wind up having to pay for the car or truck you are financing, and when lenders decide your rate, there are a number of things. The most critical of these is your credit. If your credit is pretty respectable, you will enjoy a great annual percentage rate. If it isn’t, you probably won’t. As one example of how much bad credit can cost you, consider this comparison.

Below, we’ve compared the same $13,192 car loan, but with different credit scores and interest rates:

Strong Credit Poor Credit
Loan $13,192 $13,192
Interest Rate 3.50% 10.00%
Term 5 years 5 years
Finance Charge $1,207 $3,625

It’s impossible to predict your rate of interest without having information such as your credit score and income. Take the opportunity to submit your application, which enables you to learn what rates of interest local Longview lenders and dealers can offer you.

Financing a Used Car in Longview

Preowned vehicles are less costly, that’s obvious. This means lower monthly payments and insurance premiums. Considering that they’ve already undergone that first drop in value, used vehicles require lower down payments, often 10% of the vehicle’s purchase price. Maintenance concerns can be allayed by buying a vehicle that is only two or three years old, or purchasing an aftermarket service contract. If you’d like to combine the budget-friendliness of a preowned car or truck with the reliability of a new one, consider a used car that has passed a manufacturer evaluation, like a certified preowned car or truck.

Bad Credit Car Loans in Longview

Do you have below-average credit resulting from issues like unpaid debts, company layoffs, divorce, or even bankruptcy? Even though non-prime credit might make it difficult to finance the car you’d like, it is by no means impossible.

We have the solution. We specialize in serving people who have credit problems of all kinds, getting them approved for the loans they need.

Keep in mind that financing a car can improve your credit score and show finance companies that you are a creditworthy borrower. Believe it or not, you may be able to refinance your vehicle after your score has gone up amply. Don’t overload your finances with a high car payment. Typically 5-8% of your monthly income is best, or $82 to $132 if you bring in $1,649, the average in Longview.

Longview Buy Here Pay Here Car Lots

Buy here pay here dealerships hopes you believe that nobody but them will finance you. However, this is seldom the way it is. These dealers will finance practically anybody, no matter their credit, but there are issues.

You will notice that used autos are the only models available, and these are not no money down car deals. Quite often, the down payment is close to what you would pay for the vehicle if you decided to buy it from a previous owner, and lending rates in excess of 20% APR are not unusual. There is a reason that these car dealers don’t have a good track record. We can place you with a reputable dealer who can get you behind the wheel of a really good car, even if you’ve been through bankruptcy.

Purchasing a Car in Longview: How Much Can You Borrow?

The amount you will qualify to finance is based on your income bracket and credit tier. Take a look at these amounts for the average Longview resident who has a monthly income of $1,649.

Credit Income Factor Amount
Excellent Credit 10 $16,490
Fair Credit 9 $14,841
Subprime Credit 8 $13,192
Poor Credit 7 $11,543
Very Bad Credit 6 $9,894

The amount you can borrow, and the amount you should, are not the same thing.

Financing a Car at $132 a Month

The total amount you ought to spend on a new car or truck is determined by a variety of variables. The estimates listed below derive from payments of $132, which is 8% of the average consumer’s monthly income in Longview, along with a 20% down payment and 60 month repayment terms. Rates are estimated.

Great Credit Fair Credit Poor Credit
Monthly Income $1,649 $1,649 $1,649
Payment Amount $132 $132 $132
APR 3.50% 7.00% 10.00%
Months 60 60 60
Car Price $9,065 $8,328 $7,761
Down Payment $1,813 $1,666 $1,552
Loan $7,252 $6,662 $6,209
Interest Paid $664 $1,253 $1,706
Total with Interest $9,728 $9,581 $9,467

Ready to Get Moving?

No matter your credit, we’d love to help you get the loan you need. We charge no application fees, and you could be cruising the streets of Longview in no time.