Throughout the country, credit standards for car financing have grown very difficult. Benton, AR, is no different. Here at Auto Loans Arkansas, it’s our mission to help you get behind the wheel without the hassles of an in-person credit application. The application process is easy, and many times, there is no down payment required.
Auto Loan Basics
First of all, you need to submit your application online. We try and match you with the best Arkansas auto loan lender for your needs. If pre-qualified, you will be contacted by your Arkansas auto loan lender either by phone or email. Then all you need to do is complete your car loan documentation and pick out your vehicle from an area dealer.
Click here to submit your application online.
In Benton, the average per year income is $18,083. The average credit rating is 668. Keep in mind, these are just average numbers. You don’t have to make over $1500 per month to meet the criteria for auto loans in Benton, Arkansas.
The majority of car loan providers will expect you to have a consistent job with $1500 income monthly. At the same time, your level of existing debt, inclusive of your car loan, should not be more than one half of your wages. In Benton, Arkansas, this equates to $754, on average. Even in the event your income doesn’t satisfy these conditions, chances are you will qualify with a co-buyer, larger down payment, or with buy here pay here financing in Benton, AR.
No Money Down Auto Loans: Benton (AR)
We can help you to get car loans in Benton with no down payment, but down payments are essential. What amountis sufficient? Divide how much the vehicle you want costs by five. This would be a solid down payment, but it might be possible to get approved with half that much, if not less. We offer access to no down payment car dealerships in Benton, AR.
Auto Loans With Bad Credit in Benton, AR
It’s very important to budget appropriately for your car loan in Benton, AR, particularly if you’ve got poor credit. You don’t want to reduce your credit scores even further. This guideline is crucial: do not commit more than 15% of your income a month toward paying off your bad credit loan.
- $226: 15% of average income in Benton, Arkansas
- $75: 5% for gas, servicing, etc.
At the same time, you’ll want to have the largest down payment possible. Sure, we could help you track down Arkansas automobile financing with no money down, but these carry a heightened risk of negative equity. What kind of car or truck should you get? Pre-owned. A used car or truck is a safer choice with regards to negative equity.
Bankruptcies and repossession inflict significant damage on your credit standing. Have you been afraid that it won’t be possible to obtain auto financing with bankruptcy, foreclosure, or repossession? No problem; there are finance companies that offer bankruptcy car financing for people in Benton, AR. It will take up to 7 years for going bankrupt to be completely removed from your credit score. For the most part financial institutions can’t authorize a car loan if the bankruptcy is less than 24 months old.
Bad Credit Dealerships in Benton, AR
Most AR buy here pay here lots allow you to finance a car with no credit check, but what they don’t tell you is this: this diminishes your chances of improving your credit. These dealers may be recognized as:
- We Finance Any Credit Car Lots
- In House Financing Dealerships
- Bad Credit Car Lots
For some folks, getting their auto loan without any credit check seems awesome.
Lamentably, they are not without several potential cons. We’d be remiss to not mention:
- Exorbitant Interest Rates
- Predatory Lending Tactics
- Hefty Down Payments
- Vehicles That Have High Mileage
Always check out any AR in house financing dealership on the internet. Try and find someone who has purchased a car from them in the past. Ask them if the dealer is reputable.
Car Lots That May Offer Auto Credit in Benton, AR
- Crain Automotive Team, 19501 Interstate 30 72015
- David’s Auto Sales & Pawn, 3125 Highway 5 North 72015
- Landers A Unitedauto Dealership – Landers Buick Pontiac GMC Trucks, 19236 Interstate 30 72015
- Landers Chrysler Plymouth Dodge Jeep, 7800 Alcoa Road 72015
- Rudy’s Auto Sales, 1111 Edison Avenue 72015
- Tinnon Suzuki, 18525 Interstate 30 72015
- Auto Sales Center, 21833 Interstate 30 72022
- Brett Morgan Chevy-Olds, 21099 Interstate 30 72022
- Callaway’s Cars & Collectibles, 23477 Interstate 30 72022
- Hargett Auto Sales, 23101 Interstate 30 72022
- Hometown Auto Sales Inc, 4910 Highway 5 North 72022
- Landers A Unitedauto Dealership – Landers Chevrolet, A Unitedauto Dealership, 21099 Interstate 30 72022
- Landers Chevrolet, 21099 Interstate 30 72022
- Mike’s Auto Sales, 2312 Bishop Road 72022
- North Point Automotive Group, 25315 Interstate 30 72022
- Southland Hyundai, 25315 Interstate 30 72022