Seattle Auto and Car Loans

Buy Here Pay Here Lots in Seattle

Wed, 27 Jan 2010 23:05:31 +0000

Many Seattle car buyers opt to purchase their vehicles through buy here pay here (BHPH) car lots. These are dealerships which provide in-house dealer financing, so your payments are made directly to the dealer from whom you bought your vehicle. These payments are usually made on a weekly or bimonthly schedule.

Benefits of Buy Here Pay Here Dealerships for Seattle Buyers

More Accepting of Poor Credit Consumers than a Traditional Lender
More Accepting of Vehicle Trade-ins than Many Other Dealers
Streamlined Car Buying Process — Financing and Purchasing are Accomplished as a Single Package

The flip side of BHPH financing is higher interest rates than a typical bank or credit union will offer. However, if your credit is rocky, these traditional lenders will probably not accept your credit application anyway. When you submit your application through SeattleAutoCarLoans.com, we do our best to maximize your chances of approval. If your credit score is low, our advanced matching system will be more likely to match your application to a Seattle buy here pay here dealership than a bank lender, as this will give you the best chance of getting your financing approved.

Submit your Credit Application to our Seattle Lender Network Today!

Budgeting for your Auto Loan

Wed, 28 Oct 2009 19:54:40 +0000

Financial experts like Carmen Wong Ulrich from the CNBC show On the Money typically recommend spending 18-20% of your monthly income on transportation. The average household income in Seattle is $17,154, and 18% of that amount is $257, so that should be the average monthly payment in your area after costs like gas, maintenance, registration, and other vehicles. Of course, this number varies as widely as income level does, so scale accordingly.

Bad Credit Car Loans for Seattle Residents

Sun, 25 Oct 2009 19:41:42 +0000

Today, more than 130,000 Seattle residents are estimated to suffer from bad credit (as defined by a FICO score of 620 or below). At SeattleAutoCarLoans.com, this is not a problem. We’ve partnered with a comprehensive network of Seattle bad credit car dealerships, buy here pay here lots, and subprime finance companies in order to cater to consumers with poor credit. Such comprehensive financing options maximize your chances of finding a lender who is willing to extend credit despite the number on your credit report.

Reducing your Interest Rate with Bad Credit

If you have poor credit, you probably already know about high interest rates. To reduce the interest rate on your new Seattle car loan, we encourage you to do two things if possible.

Save for a Downpayment
Find a Cosigner

These items are not mandatory, but they can improve both your interest rate and your chances of getting approved for an auto loan in Seattle, or wherever you live for that matter.