Auto Loans in Saint Joseph (MO)

Have you been thinking of getting pre-approved for financing? You should, given that it removes most of the hassles from the car-shopping process. Our market experience is unparalleled, and we are experts in getting you financed by the dealer who suits you best. It’s hard to find a better way to line up the financing you need.

What Interest Rate Should You Expect in Saint Joseph?

You’d probably like to know what your interest rate is going to be, wouldn’t you? To start with, you should know your credit score. This is the leading factor. As an example of a high versus a low interest rate, take a look at these numbers, assuming a 60-month, $17,176 loan:

  • 3.50% APR: $1,572 in interest.
  • 10.50% APR: $4,975 in interest.

It’s extremely hard to approximate the rate you’ll be charged without more details. Why not submit your application, then see what rates you are eligible for.

Financing a Used Vehicle in Saint Joseph

A preowned car or truck is the best approach for people intent on avoiding negative equity. Preowned cars and trucks are financed at higher finance fees, but down payments are much lower than what they are for brand new vehicles of an equivalent value. For anyone who is concerned about maintenance, you can purchase a a vehicle with low miles and excellent ratings when it comes to reliability. If you want the best of all possible worlds, consider purchasing a vehicle from your favorite car maker’s certified preowned (CPO) program.

Financing a Car in Saint Joseph with Bad Credit

Banking institutions typically approve those with scores of 700 or more. Luckily, there are lending companies and dealerships in Saint Joseph that work with people who have credit problems.

It’s likely that we can match you with a lender or dealer in your zip code who wants to get you in the driver’s seat.

A big part of your credit score is influenced by your history of making–or missing–payments, and making payments on your new loan can help you re-establish your credit.

Be sure to not ever miss a payment, as it can hurt your score significantly.

Spend 8% of your monthly income, that’s it, for your auto loan. For those who live in in Saint Joseph and, like the average resident, earn $2,147 per month, this is $172.

Saint Joseph Buy Here Pay Here Dealerships

Many people resort to buy here pay here dealers, also referred to as tote the note car lots, thinking that they can only get financed with no credit check. Not true. Dealers like these will approve just about anybody, no matter their credit, but there are drawbacks.

Problems include excessively high rates that nuzzle up to Missouri’s usury laws, as well as high rates of repossession There is a good reason that these car dealers have a lousy reputation. We want to put you in touch with a reputable dealer who can get you in the driver’s seat of a really good car, regardless of your credit.

Saint Joseph Consumer Profile

  • Income Per Annum: $25,758
  • Income Per Month: $25,758
  • Average Car Payment: $236
  • Suggested Monthly Payment: $172 (8% of monthly income)

Take a look at this chart, which shows what price car is within your budget based on your credit standing, given an income of $2,147 a month, 5 year repayment, and a down payment of 20%.

Good Credit Okay Credit Subprime Credit
Monthly Payment $172 $172 $172
Loan Rate 3.50% 6.50% 10.50%
Term 60 Months 60 Months 60 Months
Vehicle Price $11,802 $10,973 $9,989
Money Down $2,360 $2,195 $1,998
Total Interest $864 $1,527 $2,314
Total Paid $12,666 $12,500 $12,303