Auto Loans in San Marcos (TX)

San Marcos is well-known as one of the fastest-growing cities in the nation, and we’re proud to keep its residents in the driver’s seat of the financing process. If you’re looking to finance a car in San Marcos, your search is over. Our network of dealers and lenders is unmatched, and we have agents approve you for the financing you need. You will enjoy the convenience of working with a committed lending specialist to help answer the questions you have and set up your loan.

Auto Loans in San Marcos for New Cars

San Marcos auto loanHere at Longhorn Auto Finance, we love the smell of a new car as much as anyone. However, there are a few things to take into consideration when financing a new car, truck, or SUV. New cars are known for lower rates of interest and fewer complications than their used brethren, and many of them can be purchased with special low rate financing. Be that as it may, in order to secure a low interest rate, you’ll have to have a credit score that’s nearly perfect. In any case, it’s a good idea to speak with a dealer finance manager to decide whether a new vehicle would fit you best.

Used Vehicle Financing in San Marcos

Used vehicles aren’t always as exciting as new ones, but they are known to offer several significant advantages for your bank account:

  • Smaller loans necessary.
  • Cheaper insurance costs.
  • Shallower rate of depreciation.

People have been known to disregard used autos for having increased annual percentage rates, but remember that they cost less at signing and over time. Even if you’re upside-down on a preowned vehicle, it will typically be for a shorter time period. It is wise to have the vehicle inspected by a mechanic before buying it, or consider a used car that has passed a manufacturer evaluation, like a certified preowned vehicle.

Dealerships for Bad Credit in San Marcos

Applicants who have good credit have the benefit of low interest rates and advantageous terms, but many individuals have run into credit problems stemming from the financial climate. While poor credit might make it difficult to purchase a car, it’s by no means impossible. We can help. At Longhorn Auto Finance, we serve people who have credit problems of all kinds, getting them the loans they need.

At a bad credit dealership, your dealer will want to discuss financing right from the start. The dealer will typically need you to present documentation such as proof of income, proof of residence, and driver’s license. Make certain your auto loan payment isn’t over 10% of your income. For a person earning the San Marcos average of $1,306 of income a month, this is $131. Just divide your monthly income by 10 to get this number.

Buy Here Pay Here Dealers in San Marcos, TX

The buy here pay here industry keeps growing, largely due to the fact that so many people’s credit scores were impacted by the economic crisis. Dealers like these will approve almost anybody, regardless of their credit, but there are disadvantages. The fact is, you can expect excessive loan rates, large down payments, and cars and trucks that are too expensive for their mileage. Worse, these dealerships almost never report to the credit bureaus, and that means you could make each and every payment on time without any lift in your credit score.

San Marcos Consumer Profile

San Marcos, TX

San Marcos may not enjoy the superior per-capita income of nearby Austin, but it is a fast-growing city with a strong economy.

  • Yearly Income: $15,670
  • Monthly Income: $1306
  • Average Car Payment: $144
  • Recommended Car Payment: $65 to $131 (5-10% of monthly income)

Here we have a chart depicting what car you can afford with a payment of $104, 20% down payment, and 5-year term.

Excellent Credit Fair Credit Bad Credit
Payment $104 $104 $104
Loan Rate 3.50% 7.00% 10.00%
Months 60 60 60
Vehicle Price $7,179 $6,596 $6,147
Money Down $1,436 $1,319 $1,229
Total Interest $526 $992 $1,351
Price with Interest $7,705 $7,588 $7,498

Complete Your Finance Application

If you’ve got bad credit, let us help. Apply online, and we’ll get you approved. It’s quick, safe, and secure.