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Autoloan Credit Express Offers A Down Payment Assistance Program!
Autoloan Credit Express Helps Credit Challenged Individuals Get New Vehicles
When you have bad credit, it can feel like you are limited when it comes to the number of options you have for a new vehicle. It can almost feel like you need a miracle just to get behind the wheel of a new car, truck, or SUV. We can understand that may lead to a lot of stress and anxiety. At Autoloan Credit Express, located at 428 Pleasant Street in Fall River, MA, we offer many programs to help those with poor credit and no credit get access to the new vehicles they need.
Whether you have experienced a catastrophic life event, like a divorce, bankruptcy, foreclosure, or repossession, or you are just trying to establish your credit, we can help. One of the programs we have available to drivers is the Down Payment Assistance Program.
What is a Down Payment?
If you have purchased a new vehicle from a car dealer near Swansea, MA in the past, you probably have a good understanding of what a down payment is in terms of auto financing. Essentially, a down payment is a sum of money that a customer puts down toward the purchase or lease of a new car, truck, or SUV. In some cases, a customer is required to have a down payment before a bank or credit union will approve their car financing.
In the case that a financial institution states that a driver needs a down payment, the amount will be up to that lender. It will be a fraction of the overall cost of the vehicle, but that fraction will be different based on a number of factors, including the price of the vehicle, your credit score, and the term. Often, a down payment can range anywhere from 10% to 20% of the overall purchase price.
Why is a Down Payment Important?
Even if a down payment is not required by a lender for your new vehicle purchase, it is still a good idea to have one. Having a down payment means that you can drive around Seekonk, MA in a car, truck, or SUV with the knowledge that you will pay less overall for your vehicle than if you had financed the entire amount. Having a down payment can save you thousands of dollars in finance charges. It's a much better feeling to know that you are going to be paying less.
A down payment also puts you in a stronger equity position with a lender. When you borrow less money from a bank or credit union, their overall risk is lower. It may get you better terms than If you didn't have one at all. Of course, there are times when having a down payment won't be left up to you. If you have bad credit or no credit, a lender may require that you have a sizeable down payment.
What if I Don't Have a Down Payment?
Are you a Fairhaven, MA driver that is concerned about buying a new vehicle because you don't have the down payment that may be required? You are not alone. There are many East Providence, RI drivers who have the money to make a monthly payment, but require the amount of cash they would need to put toward a new car, truck, or SUV.
Luckily, the team at Autoloan Credit Express can help. Over the years, we have assisted many New Bedford, MA drivers come up with the down payment they needed toward the new vehicle they needed. The Down Payment Assistance program is set up to assist those who find themselves needing help with getting the cash they need to get behind the wheel of a new car.
If you are a driver who needs a second chance, or a way to get your credit established, our Down Payment Assistance program might be the jump start your credit application needs to get you on your way to sliding into the driver's seat of a new vehicle.
Down Payment Assistance Program FAQ's
What is a Downpayment?
A downpayment is a set amount of money that a lender requires you to pay before they loan you the money for your purchase. It is considered a "good faith" gesture from you to the lender.
How Does a Downpayment Work?
Downpayments lower the principal cost of your vehicle. For example, if your vehicle has a price tag of $20,000 and you make a $1,000 downpayment, then your new principle-or amount financed-is $19,000.
How to get Downpayment Assistance for a Car?
If you need help with your downpayment, you can speak to one of our friendly finance representatives. They will answer your questions and help you find the plan that suits you best.
Is a Downpayment Necessary to buy a Car?
That all depends on your credit history. If you have excellent credit, you probably won't have to make a downpayment. But, if your credit is less than perfect, a downpayment will be necessary in most cases.
Can I get Downpayment Assitance if I Have Bad Credit?
With Autloan Credit Express, you can. We have programs designed to assist people with bad credit. So, don't a low credit score keep you away from the driver's seat today. Good credit, bad credit, or no credit, we're here to help.
Do you Need Downpayment Assistance?
You finally found the vehicle you wanted. It's roomy enough to fit you and your children and stylish enough for you to look good as you drive through Fall River, MA. Everything is lining up right. Your credit is good, and your monthly payments are right within your budget. But, there's one thing keeping you from the driver's seat. You're a little short on the required downpayment. So, what will you do? Pack up and try your luck with someone else, or-take advantage of our Downpayment Assistance Programs?
Downpayment Assistance
If you're short on your downpayment, we can possibly help you make ends meet. Our Downpayment Assitance program can give you the extra cash you need so you can drive home with your pre-owned vehicle today. We also have a few more assistance options suited for those who need a little helping hand for auto financing.
Your Financing Assistance is Just a Click Away
At Empire Credit, we offer a few ways to help you get the funds you need to take your car home today. We work with all types of credit and help you get into the best position to take ownership of your pre-owned vehicle from our Empire Pre-Owned Superstore.
Bankruptcy Program
Filing for Bankruptcy can be a sticky situation, and the effects on your credit can last for up to seven years. Not only that, but it will usually be a deterrent for lenders when you're looking for auto financing. But, here, we have a financial assistance program specifically designed for people who filed for bankruptcy.
First Time Buyer Program
So, you don't have an established credit history. While that may not be a bad thing, it's also not ideal, either. Often, lenders don't want to take the chance on someone without a credit history because they're the ones taking the risk. But we'll gladly take that risk for you. Our First Time Buyers program is for those with little to no credit. We'll give you a loan for up to $40,000 to purchase your first pre-owned car, truck, or SUV.
Fresh Start Program
If you have a less than stellar credit history, that's ok. We can still work with you. Our Fresh Start program is designed for people who need a second chance to own a vehicle. Late payments, high debt-to-income ratio, or whatever your case is, we'll still accept your application and get you approved. You deserve a second chance-and we're here to give it to you.
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Autoloan Credit Express
428 Pleasant Street
Fall River, MA 02721
- Sales: (508) 673-7646
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