- Extensive Network of Lenders
- Stress-Free Application Process
- Zero Fees, Zero Commitments
- No Down Payment Needed
- All Credit Tiers Accepted
- 1-Hour Approval for Qualified Applicants
- Online Status Updates
When you apply online, we’ll place your application with a lender based on where you live, your income, your down payment, and other factors. We have dealers and lenders who offers auto loans for Racine residents of all credit tiers and income brackets. Don’t waste time searching for the company that wants your business. We can have you on your way to approval in three minutes.
Bad Credit Car Dealers in Racine
If you have less-than-perfect credit, you’ve come to the right place. After all, Special Finance is our primary focus. There’s no minimum credit score involved, and we can help applicants at each of the subprime credit tiers. Generally, loan companies do require applicants with below-average credit to provide a down payment, but most of our clients are approved within minutes. Let us find you a bad credit car dealer in Racine who’s willing to approve you for financing. Since we’re compensated by the dealers themselves, there is no fee for utilizing our services. Plus, these dealers and lenders report payments to the credit bureaus, meaning you’ll have the opportunity to boost your credit score by paying off the loan as agreed.
Auto Loans in Racine with Zero Money Down?
Buyers with good credit can usually get an auto loan with no money down. Customers with below-average credit, on the other hand, may need to furnish a down payment. That is because lending to customers with below-average credit is a much riskier proposition, and a down payment makes certain that at least a percentage of the vehicle has been paid for in advance. With that being said, we get many loan-seekers the loan they need without a down payment.
Apply online, and enter a zero in the down payment section. We will place your application with a lender willing to finance your purchase, no down payment necessary.
Buy Here Pay Here Dealers in Racine – Bad Idea?
Buy here pay here car lots in Racine work like those across the rest of the state. They don’t rely on third-party banks to provide loans for their customers. Instead, they provide financing in-house. This enables them to serve clients at the lowest end of the credit spectrum. Shoppers who cannot get approved for financing because of major credit problems like bankruptcy often resort to these types of dealerships. Of course, the annual percentage rates are inflated, but there are a lot fewer roadblocks to approval.
Still, we recommend that you let us find you a bad credit car loan in Racine with a better interest rate, as well as more opportunity to rebuild your credit through timely payments. Most BHPH lots choose not to pay the fees necessary to report to the credit bureaus, meaning agencies like Equifax, Experian, and Transunion will have no way of recording the loan on your credit history. That means you can’t expect any credit improvement through in-house financing.
Racine Consumer Profile
Lenders are worried about much more than just your FICO score. Lenders look at such things as:
- Source of Income
- History of Debt Repayment
The following are average stats for residents of Racine (official site here).
- Average Income: $26,932 Annually
- Average Car Payment: $247 (11% of Income)
- Recommended Car Payment: $180 to $224 (8%-10% of Income)
If you have below-average credit, you aren’t the only one. This table shows how many people in Racine are in each credit level.
|FICO Score||% of Population||Residents|