Auto Loans in Hazelwood (MO)

Cars are costly nowadays, but if you approach the auto loan process the right way, you’ll save lots of money down the road. We have access to an extensive network of lenders and dealers, which means we can help applicants from every end of the credit spectrum. You’ll be led step-by-step through the auto financing process by a finance professional in your area.

Gauging Interest Rates in Hazelwood

Securing the cheapest rate of interest possible should be your main concern, given that it will dictate how much your vehicle costs overall.

Factor Lower Rate Higher Rate
Credit Better Worse
Income Higher Lower
Down Payment More Lower
Loan Term Fewer years More years
Vehicle Mileage Lower Higher

To receive an exact rate quote, you need to contact a vehicle finance specialist.

Auto Loans for Used Cars in Hazelwood

In today’s world, cars are so well built that a used car or truck is hardly an issue. Because they have been subject to that immediate depreciation, used cars and trucks necessitate less expensive down payments, ordinarily half of what you’d have to pay for a similarly priced new car or truck. Even if you’re in over your head on a used car, it will typically be for a shorter time period. In order to help you decide which kind of car meets your requirements, take a look at the following chart. These estimations rely on these assumptions:

  • Used vehicle is two years old.
  • Good credit score.
  • Simple Interest.
New Car Used Car
Price $30,230 $15,115
Down Payment $6,046 $1,512
Loan Rate 5.00% 7.50%
Years 5 4
Monthly Payment $456.38 $328.92
Finance Fees $3,199 $2,185
Total Paid $33,429 $17,300

Hazelwood Bad Credit Car Loans

Most auto finance companies look at a credit score customized for the automotive industry. This score is weighted by your prior experience with auto loans or leases, and it is not provided to consumers. Seeking out a loan company in Hazelwood that serves people with bad credit is a must. After all, you don’t want to have your credit turned down or have to deal with an unnecessarily high APR rate. Through us, you can contact an automotive finance professional from a dealer or lender within driving distance who is ready to fund your loan.

Given that credit is your major hindrance, your sales rep will be inclined to discuss financing before anything else. To meet the approval criteria, you will normally need to show income verification through pay stubs or tax returns, as well as a lease or power bill that has your home address. Your finance professional will give you more details. Make certain that your car payment isn’t greater than 10% of your income. For a person making the Hazelwood average of $3,023 of income on a monthly basis, that’s $302. Calculating this based on your own income is pretty simple. Simply divide your monthly income by 10 to establish the upper end of your payment range.

Buy Here Pay Here Car Lots in Hazelwood, Missouri

Considering going to a buy here pay here dealer to get approved? Typically, there are more attractive options. Customarily, dealer financing is indirect, in that dealers work with off-site banks and lenders to provide the loans. By contrast, BHPH dealers become both the lender and the dealer..

You’ll find that preowned cars and trucks are the only ones on the lot, and these aren’t no money down car deals. In most cases, the down payment is as much as the vehicle’s wholesale value, and rates of more than 20% APR are not uncommon. There is a reason why these dealerships have a lousy track record. We can match you with dealer finance professional who can put you in the driver’s seat, not matter your credit.

Hazelwood Consumer Profile

  • Annual Income: $36,275
  • Income Per Month: $36,275
  • Typical Car Payment: $333
  • Recommended Car Payment: $242 (8% of monthly income)

Vehicle Budgeting for Hazelwood Residents

Below we have a chart displaying what car you can afford with a monthly installment of $242, 20% down payment, and 60 month term.

Excellent Credit Fair Credit Subprime Credit
Monthly Income $3,023 $3,023 $3,023
Payment $242 $242 $242
Rate 3.50% 6.50% 10.50%
Vehicle Price $16,617 $15,450 $14,064
Down Payment $3,323 $3,090 $2,813
Amount Borrowed $13,294 $12,360 $11,252
Total Interest $1,216 $2,150 $3,259
Price with Interest $17,834 $17,600 $17,323