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1149 1st Ave Directions Gadsden, AL 35901

Info

Credit Clinic Auto Financing After Foreclosure


Getting An Auto Loan Is Hassle-Free At Team One Gadsden Chrysler Dodge Jeep and Ram In Gadsden, AL

 
    

Do not let a recent foreclosure stop you from getting into a car. While a recent foreclosure means that difficult times are ahead, it does not mean that a reliable vehicle is out of reach. If you have had a recent foreclosure on your credit history report, you can still get bad credit auto loan from Team One Gadsden. Our finance professionals will assist you in getting a hassle-free auto loan that fits into your current situation. A reliable vehicle is necessary to maintain your current driving lifestyle after a foreclosure, you can rely on Team One Gadsden  for all of your bad credit loan needs.

If you are planning on applying for a bad credit auto loan after a foreclosure, these tips will help you get approved, which include:

  • It doesn't matter whether you're living in the foreclosed property or not.
  • You can get a bad credit or sub-prime auto loan whether the foreclosure process is complete or not.
  • If you are still currently residing in the foreclosed property, your lender can use your mortgage payment in calculating your debt to income ratio.
  • Be ready to put down a larger down payment. When it comes to putting a down payment down on a car, every state in the US has various regulations. However, when receiving an auto loan after a foreclosure, you can assume to put down approximately 20 percent to 50 percent of the car's value as a down payment.
  • If you are not living in the foreclosed property, your lender will use your current rent or mortgage payment to calculate your debt to income ratio.
  • Your interest rate will most likely be higher for a bad credit loan that one from a conventional auto loan.
  • Understand that the length of a bad credit auto loan term will be shorter than the terms allowed for a conventional loan. Be ready to pay off your loan within two to four years and have a slightly higher payment than one with a conventional auto loan.

Question About Financing?

By submitting your contact information, you consent to be contacted by telephone about purchasing a vehicle or obtaining vehicle financing. Clicking on the Submit button above is your electronic signature.

Hours

  • Monday 8:30AM-7PM
  • Tuesday 8:30AM-7PM
  • Wednesday 8:30AM-7PM
  • Thursday 8:30AM-7PM
  • Friday 8:30AM-7PM
  • Saturday 8:30AM-6PM
  • Sunday Closed

Get Directions

By submitting your contact information, you consent to be contacted by telephone about purchasing a vehicle or obtaining vehicle financing. Clicking on the Submit button above is your electronic signature.

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