At Hartland Automotive Sales, we are happy to help you find the new car of your dreams, no matter what kind it may be. We understand that everyone is looking for a different type of vehicle and we want to be there to provide you with the very best each time! When you need a vehicle, come and visit us to see what we can offer for you.
Do I need a down payment?
This will depend on the loan that you get. Many loans with the best terms do require the borrower to have some kind of down payment in order to get them. The amount will depend on the loan provider and the cost of the car. A good rule of thumb is, the more you can put down for the down payment, the better your terms and rates will be on the loan. If you can, it is best to put down at least 20% of the total price of the vehicle.
Can I Get a Car without a down payment?
There are some loan providers that will work with those who need a car loan with no down payment. This is usually something reserved for those with lower incomes and for used cars though. You will need to talk with the specific loan provider to see what their rules are. Since this presents more risk to them, they may ask you to pay more fees or other things within the loan, costing you more money overall.
Putting in some kind of down payment will help you pay less over the life of the loan and can make the loan get paid off faster. When you have less to pay, the interest adds up slower and you can get the vehicle for less than before.
What If I Have Bad Credit?
There are some lenders that will provide you with a loan even if you have bad credit. However, these are usually the ones where you will need to put down some sort of down payment on the vehicle. Those with bad credit struggle to pay their bills so the lender wants to make sure they can get their money back after working with you.
If you want to have a car loan without a down payment, it is much easier to do this when you have good credit. If you have the time, make sure to work on your credit ahead of time. Even a few points is enough to help get you noticed and can lower the amount you will need to pay to the lender to get the new car.
Buying a new vehicle can be tough. There are a lot of hoops to jump through and you may need to search around to find the right one for your needs before you make a purchase. At Hartland Automotive Sales, we can provide you with some of the best vehicles around, no matter what you are looking for.
Contact us today to find the car of your dreams.