Auto Loans in Akron (OH)

Here at Buckeye Auto Finance, we help people in Akron secure auto loans, even with challenges such as bad credit, no credit, and no down payment. Our industry partnerships are unrivaled, which means we can help applicants get pre-approved for financing, even if their credit isn’t ideal. You’ll be led one step at a time through the process by a lending specialist in your city.

Car Loans for New Cars in Akron

Many people elect to buy a new car versus a used one simply because it’s easier. However, if you finance a new car, you ought not plan on trading it in before the term is up. Otherwise, you could wind up owing the bank even after the vehicle has been traded in or sold. Be that as it may, car companies are desperate to sell vehicles, and you can often secure a great offer through the manufacturer’s captive finance wing, even if your credit isn’t great.

Used Car Financing in Akron

You don’t need buy a car right from the showroom floor to have a trustworthy vehicle with good fuel economy. The shorter financing terms typical of used vehicles typically translate into less interest accrued, even if you have a less affordable rate of interest. For anyone anxious about maintenance, make sure you find yourself 1-2 year old vehicle with great dependability. In the long run, a preowned car or truck will provide nearly equivalent satisfaction at a percentage of the cost.

Akron Bad Credit Car Loans

For the most part, auto lenders assess your credit based on your auto-enhanced credit score. This score is based on your history with car loans and leases, and it’s only for lenders. Many consumers turn to one of the buy here pay here car dealerships in Akron, on account of a bad credit score, but it is best to steer clear of these dealers. We have the solution. We are dedicated to serving clients with credit problems of all kinds, getting them approved for the loans they need.

Bad Credit Car Dealerships in Akron

At a bad credit dealership, your salesperson will speak with you about financing right from the start. If you apply through us, you can arrange your funding arrangement ahead of time, then make a time to sign and drive. All in all, your loan payment should be just 5-8% of your gross income on a monthly basis. As an example, a resident of Akron who gets paid $1,682 every month, the average, should plan to set aside just $84 to $135, no more.

Akron Buy Here Pay Here Dealers

Perhaps you have thought about going to a buy here pay here dealer for a car that could be financed? Ordinarily, there are better options. Sure, they don’t look at your credit, which means your credit problems ought not be an impediment, but odds are you’ll pay more than you should for this privilege.

Customarily, preowned cars and trucks are the only thing offered, and these aren’t no down payment car loans. Quite often, the down payment is equivalent to what the dealer paid for the vehicle when they bought it, and you could wind up paying at least 20% APR. There is a reason that these dealerships don’t have an outstanding track record. We want to connect you with a reputable dealer who can get your loan funded, even if you’ve experienced bankruptcy.

Akron Income and Finances

  • Income Per Year: $20,180
  • Income Per Month: $20,180
  • Typical Car Payment: $185
  • Recommended Car Payment: $135 (8% of monthly income)

Akron Car Loan Rates and Payments

Are you wondering how much car is in your budget? Check the chart below, but keep in mind the interest rates have been estimated, and the numbers assume $20,180 in yearly income, the average in Akron. Loan length is 5 years.

Excellent Credit Decent Credit Poor Credit
Monthly Income $1,682 $1,682 $1,682
Monthly Payment $135 $135 $135
Loan Rate 3.50% 7.00% 11.00%
Purchase Price $9,246 $8,494 $7,736
Down Payment $1,849 $1,699 $1,547
Total Interest $677 $1,278 $1,885
Total Paid $9,923 $9,772 $9,621