Getting Financed: The Process
How do you get your credit approved? It’s a snap.
- Begin By Applying for Financing. Our application is faster than our competitors’, and there are no obligations. When matching you with a lender, our system accounts for a number of factors, including income, credit, and location. There is no minimum credit score, and we welcome clients of all income and credit levels.
- Discuss Your Needs with Your Mississippi Auto Loan Professional. A finance specialist will contact you directly, in order to help you finalize your loan. They should be able to give you an APR quote at this stage, as well as your options as far as vehicles and lending terms. Keep in mind, you’re under no obligation to accept this finance package.
- Select a Vehicle from a Dealership In Your Town. With you loan arranged, you can purchase your vehicle from a dealership in your area. Arranging your financing ahead of time will actually simplify the process of purchasing your vehicle, and potentially boost your bargaining power with your dealer.
You would be hard-pressed to find a better, faster, more convenient way to finance a car in Mississippi. Why even try? Give us a test-drive. There are no obligations, and you could have your funds secured in no time.
Is a Down Payment Necessary?
That depends largely on your credit. Certainly there are zero down car deals in Mississippi. If you have a score in excess of 720, there is a good chance that lenders and dealers will allow you to forego a down payment. If your credit isn’t so good, a down payment of 10-20% may be required. Typically, the lower your score, the higher the down payment required. If you do not have the cash on hand for a down payment, consider trading in your current vehicle for trade equity or selling it on the private market to obtain the funds you need.
Mississippi Auto Finance Rates
People are often overly focused on the sticker price of their new car or truck, when they ought to be focused on the interest rate they’re offered. Location does a play a role in establishing what your interest rate will be, but your credit score is the primary factor. Don’t know your score? You really should. It also allows you to negotiate more effectively with your dealer or lender, because you will know what interest rate you actually deserve.
In Mississippi, interest rates range from 19-21% APR for horrible credit, 11-12% APR for bad credit, 5-8% APR for subprime to fair credit, and 3-5% for good credit.
Can You Meet The Following Criteria?
- $1500 Monthly Income
- No Repossessions in Past Year
- Resident of Mississippi, 18 Years or Older
If so, you’re eligible for a loan!