Are you struggling to find financing for a new or used car? Are you put off by high down payments, punitive interest, and large monthly installments? Come and see how much you could save with CarFundy. Our handy car loan calculator makes it easy to see what kind of car loan is available for you.
Sometimes auto financing can seem like a Catch-22. You could get a better job if you had a car, but you need a better job to get a car. Large down-payments, strict credit checks, and expensive monthly payments can all work to put the vehicle you need out of your reach.
CarFundy understands that not everyone has a clean credit record or thousands of dollars in the bank for a down payment. We’ll work with you to set up a car loan that suits your budget. Our terms are very favorable, and we don’t demand substantial down payments just to get started.
With CarFundy, arranging finance for the car of your dreams couldn’t be easier. Whether it’s a spacious family vehicle to drive your kids to school, a reliable ride to work, or a cool convertible that lets you enjoy the sunshine, CarFundy can help.
Since most of us don’t have the price of a new car just sitting in a savings account, specialty loans are available to pay for your vehicle. There’s usually a sizable down payment, followed by regular monthly payments. On top of the car’s introductory price, you pay interest–a percentage of the cost added to your monthly expenses. The annual percentage rate or APR will vary significantly between lenders.
What is a Bad Credit Vehicle Loan?
A bad credit car loan is like a regular auto loan, except that the interest is adjusted to reflect a lower credit score. Some car loan providers charge huge interest rates and insist on massive down payments before they’ll provide a bad credit loan. At CarFundy, we strive to keep our interest rates as low as possible. We also ask for much smaller down payments, making our loans much more affordable.
Can You Get a Loan Even With Bad Credit?
Getting and maintaining a favorable credit score can seem like an uphill battle. You can be the most honest and reliable person in the world–but if you hit a financial snag at any time in your life, it can affect your credit rating for years to come.
Some people assume that if they never borrow money and go through life paying by cash, they’ll never face this problem. You may have heard people say: “I’ve never had a credit card! My credit score must be great!”
Unfortunately, this is not the case. If you don’t have a history as a borrower, your credit is a blank slate as far as lenders are concerned. This is especially bad news for young people who are looking for financing for their first car. A few purchases on an emergency credit card don’t add up to much of credit history in the eyes of potential lenders.
If your credit score isn’t perfect, you may find it hard to obtain a loan on that new or used cars.Some lenders won’t deal with you at all. Other lenders will take you on as a borrower–but they’ll charge sky-high interest. It can be challenging for someone with a low credit score to obtain a conventional Bank car loan. These so-called subprime loans can be hard to find and may work out to be very expensive.
That’s where CarFundy comes in. We’ll help to match you with the ideal loan for your circumstances, ensuring that you get lower interest, a more reasonable down payment, and affordable monthly repayments. Even if you’ve had bad experiences with lenders in the past, CarFundy can help you.
Whether you’re buying a new or used car, CarFundy can help you find the car loan that’s right for you. Our car loan payment calculator and car loan interest calculator will give you an accurate idea of the payments you can expect, so you know exactly what your monthly payments look like. CarFundy can obtain excellent car loan rates for you, giving you peace of mind and total confidence. Our new car and used car loan rates are perfect for any budget, even if your income is lower right now.
A truck can make all the difference to your lifestyle. Many occupations require a truck, whether you’re working for a larger employer or striking out on your own with a small business. While the average truck loan interest rate for bad credit truck loans tends to be high, CarFundy can help you reduce your interest by securing the most affordable loan deals.
Unfortunately, we can’t offer semi-truck loans or commercial truck loans at this time.
Have you ever dreamed of jumping in an RV and driving off on an adventure–only to be brought down to earth by bad credit and a lack of finance options? Why not let CarFundy find you an affordable RV loan? Our experts know how to keep your monthly payments low enough for you to afford them comfortably.
A motorcycle is a great transport option, whether you’re looking for a vehicle to get you to work or for a long road trip. Even with bad credit, CarFundy can help you get the bike of your dreams with a reasonably priced loan.
What If I Have a Bankruptcy in My Past?
Bankruptcy and repossession can be awful experiences. Whether you’ve managed to put your difficulties behind you or are still struggling, CarFundy understands your situation and will work to help you obtain a car loan at a reasonable rate.
Once you’ve received a discharge from a Chapter 7 or Chapter 13 bankruptcy, the process of getting a car loan through CarFundy is simple. We’ll look at your current credit and the amount you want to borrow and match you with the right lender and the right product. It can help to get someone you trust to consign the loan, but it’s not essential.
What If I Have an Open Bankruptcy?
Many people assume that if they’re still going through the bankruptcy process, they’ll automatically be refused by lenders when they try to secure a car loan. Nothing could be further from the truth. Even if you’re currently completing the bankruptcy process, you may still be able to obtain an open bankruptcy car loan.
CarFundy understands that life doesn’t stop for financial obstacles. We’ll work to find the right loan for you and get you back on the road, regardless of your financial situation.
Will a Bad Credit Loan Hurt My Credit Rating?
Getting a vehicle loan can be a great way to help fix your credit rating and recover from past financial setbacks. It’s an opportunity to show that you’re a responsible borrower and that you can meet your financial obligations. CarFundy will match you with a reasonably priced car, truck, RV, or motorcycle loan that you can pay back in easy installments.