Bad Credit Auto Loans in Clarksdale (MS)

When it comes to getting a car loan in Clarksdale, not many firms have simplified credit acceptance like us. We allow you to apply for financing through our 50-state network of dealers and lenders. Normally, we’re able to match consumers with a willing lender or dealer in as little as a minute.

New versus Used Cars in Clarksdale

Have you considered what kind of vehicle you want? Do you want it to be used or new? Even with more expensive loan rates, used cars save you money, as the following chart depicts.

New Car 1 Year Old Car 2 Year Old Car 3 Year Old Car
Retail Price $18,980 $14,235 $11,388 $9,490
Owed Upfront $3,796 $1,424 $1,139 $949
Loan Rate 5.00% 7.50% 7.50% 7.50%
Duration 60 months 48 months 48 months 48 months
Monthly Installment $286.54 $309.77 $247.81 $206.51
Interest $2,008 $2,057 $1,646 $1,372
Total Paid $20,988 $16,292 $13,034 $10,862

A vehicle lending professional will help you determine the type of vehicle that suits you. To talk about the options available to you, go on and submit an application.

Clarksdale Car Loans for People with Bad Credit

If you’ve got great credit, you will probably enjoy very low rates of interest and great terms, but a lot of us have faced credit problems as a result of the financial climate. Too many people head for a buy here pay here dealer in Clarksdale, because of bankruptcy or foreclosure, but this isn’t usually the case.

When you apply for financing through us, our team works to place your application with a lender or dealer in our network who wants to finance your credit.

Should Your Score Be Stronger?

If you want to minimize your interest rate, make the time to review your credit report for errors that could be decreasing your score.

It’s best to review your credit history no less than one time yearly. Failing to do so could contribute to higher rates, scaled-down loans, and less chance for being approved.

Clarksdale Buy Here Pay Here Dealerships

People in the BHPH industry would love you to assume that you haven’t any option but them. However, this is very rarely the case. Generally, dealer financing isn’t direct to the consumer, in that dealers go through off-site banks and lenders to provide the loans, but BHPH dealers don’t. They serve as both lender and dealer..

Disadvantages include:

  • Exorbitant Finance Fees
  • Inflated Down Payments
  • Overpriced Cars and Trucks
  • GPS Tracking Devices

And if that weren’t enough, these car lots very rarely work with the credit bureaus, so you could make all of your payments punctually without a boost to your credit score.

Clarksdale Consumer Profile

  • Gross annual Income: $22,775
  • Income Per Month: $1,898
  • Typical Car Payment: $209
  • Ideal Car Payment: $95 to $190 (5-10% of monthly income)

Trying to determine how much car you can finance? Have a look at the estimates below. The rates of interest have been approximated, and the figures are based upon an annual income of $22,775, the average in Clarksdale. Repayment term is 5 years.

Excellent Credit Fair Credit Bad Credit
Payment $152 $152 $152
APR 3.50% 7.00% 11.00%
Months 60 60 60
Sticker Price $10,433 $9,585 $8,729
Money Down $2,087 $1,917 $1,746
Loan $8,347 $7,668 $6,984
Interest Paid $764 $1,442 $2,127
Price with Interest $11,197 $11,027 $10,856

Complete Your Online Application

No matter your credit, we’d love to help you find the funds you need. A finance professional will walk you through the lending process, helping you obtain a reasonable rate of interest.