Bad Credit Auto Loans in Gulfport (MS)

If you are looking to buy a new or used car in Gulfport, you’re probably going to need a car loan to complete your purchase. Rather than waiting until you’re at the dealership, we enable you to get approved for a car loan ahead of time. This not only minimizes your time on the lot, it provides you with much greater negotiating power. You can expect to be led step-by-step through the lending process by a local financing specialist. Don’t sit around waiting for your ship to come in–secure the funds you need today!

Support for US Naval Personnel and Contractors

Seabees-InsigniaAs you well know, Gulfport is home to the USN Construction Battalion, or Seabees. Established in 1942, this base serves as the largest employer in the area, and it helped the city better recover from Hurricane Katrina and its aftereffects. Here at Mississippi Auto Finance, we are proud to support our nation’s service members, welcoming personnel of all ranks, credit tiers, and duty statuses. When you apply online, be sure to mention your service to your lending specialist. Many of the dealers and lenders in our network provide discounts of one kind or another for USN personnel and contractors. This may include a discounted APR, cash-back rebate, or other incentive.

New and Used Vehicle Loans in Gulfport

Have you made up your mind which you’re going to buy: a used or new car? Regardless of higher rates of interest, used cars cost you less, as is obvious from the figures here.

New Car 1 Year Old Car 2 Year Old Car 3 Year Old Car
Sticker Price $14,090 $10,568 $8,454 $7,045
Money Down $2,818 $1,057 $845 $705
Interest Rate 5.00% 7.50% 7.50% 7.50%
Term 5 years 4 years 4 years 4 years
Monthly Installment $212.72 $229.96 $183.97 $153.31
Finance Charge $1,491 $1,527 $1,222 $1,018
Total Paid $15,581 $12,095 $9,676 $8,063

As you can tell, a new car loses half of its value after 36 months, meaning you can often get a bargain among late model used cars. Ultimately, it’s your decision.

Buying a Car with Bad Credit in Gulfport

A lot of lenders look at a credit score customized for the motor vehicle industry. This score is based on your previous experience with auto loans and leases, and it’s not offered to consumers. You don’t want to deal with being rejected by the bank or lender, so you should contact a company in Gulfport that helps people with problematic credit. We have the solution. At Mississippi Auto Finance, we are dedicated to serving people who have credit problems of all kinds, getting them approved for the loans they need. You want to finance a vehicle that will fit your credit, not the other way around, and your salesperson should be able to guide you.

If you apply through us, you can ordinarily hammer out the important points of your loan beforehand, then pick a date to visit the lot and buy the vehicle you want. Never let yourself be persuaded into buying a vehicle that’s higher in price than you feel comfortable with. Restoring your credit is the top priority.

Gulfport Buy Here Pay Here Dealers

For people who have major credit problems on account of issues like bankruptcy or debt settlement, buy here pay here financing might possibly sound like the only option. Sure, they do not carry out credit assessments, meaning bad credit shouldn’t be a barrier to getting approved, but you wind up paying a lot for this. The fact is, you should expect exorbitant loan rates, expensive down payments, and well-used vehicles that are overpriced. There’s a reason why these car dealers have a dirty track record. Let us place you with subprime finance specialist who can get you in the car or truck you want, even if you’ve had to file bankruptcy.

Gulfport Consumer ProfileGulfport-MS

  • Gross annual Income: $16,903
  • Monthly Income: $1,409
  • Ideal Monthly Payment: $113 (8% of monthly income)

How Much Car Can You Afford?

Have a look at this chart, which shows what price car you can finance based upon your FICO score, given an income of $1,409 per month, 60 month loan, and 20% due at signing.

Excellent Credit Fair Credit Subprime Credit
Monthly Income $1,409 $1,409 $1,409
Monthly Payment $113 $113 $113
Loan Rate 3.50% 7.00% 11.00%
Vehicle Price $7,745 $7,116 $6,480
Money Down $1,549 $1,423 $1,296
Interest Paid $567 $1,071 $1,579
Total Investment $8,312 $8,186 $8,059

Start Your Application Online!

We have lenders and dealers who are standing by to approve you for financing. Apply online, and we’ll get you approved. It’s quick, easy, and secure.