Colorado has an average credit score of 674, and yet 6,604 of Colorado’s residents have a credit rating of 550 to 600.
Grand Junction, CO buy here pay here car dealers work with customers who need to buy a car with complications such as bankruptcy, foreclosure, repossession, or just very bad credit. Sadly, many traditional finance institutions will refuse borrowers with problems like these right from the start.
How Do In House Loans Work in Grand Junction?
Are you asking yourself how these types of dealers can provide loans in circumstances in which regular used car lots can’t? First of all, you have to know how an old-fashioned car lot does financing. Essentially, the car dealership has a preferred list of loan providers, such as banks, credit unions, and car finance lenders.
If you get your car loan acceptance, the lending company literally purchases the car, and your monthly payments go to the bank or investment company. Buy here pay here car dealerships, on the other hand, grant automobile loans directly; this means they aren’t dependent upon the banks and typical originators. That makes it easier for you to buy a car, while making it easier for them to sell cars and trucks to the 16,510 people in Grand Junction who have a low credit score.
Is Buy Here Pay Here The Right Choice?
But wait! Is your job is your credit financing really the right way to go? After all, buy here pay here car lots in Grand Junction, CO have got a few key drawbacks:
- High Interest Rates
- High Down Payment
- Little Opportunity to Re-establish Your Credit
You’re lucky. Here at Car Lots USA, we work with a diverse variety of pre-owned car lots and loan companies. Just complete our simple web form, and our advanced application program will locate the car lot or loan company that best suits your needs, considering your credit score, location, and down payment.
The people of Grand Junction, on average, take home $27,373 each year. Experts recommend dedicating no greater than 1/10 of your gross annual income on automotive payments. In Grand Junction, this is $2,737. But you also ought to think about insurance costs ($800 per year in CO), as well as fuel costs ($2.77 a gallon as of ’08 and going up). Try to avoid having to spend more than this; otherwise, it will surely stretch your budget.
No Credit Check: Good Idea?
Numerous buy here pay here dealerships in Grand Junction, CO, make a big to-do over the fact that they never conduct credit checks. But did you know that no credit checks typically means little chance to rebuild your credit?
This is due to the fact that, to re-establish your credit, you must demonstrate that you’ll pay down any and all debts. But the credit reporting agencies overseeing your account are generally blind when it comes to payments not filed with them.
Chances are, your dealership won’t be filing anything with the credit bureaus if they do not perform a credit check initially. That’s the reason the little dent in your credit rating can be well worth the future re-establishment of your credit scores. Nearly all of the dealers with whom we work send data to the credit agencies.
Credit Inquiries: Will My Score Decrease?
Credit assessments made by a dealership will decrease your credit scores about five points for about six months.
Used and BHPH Car Dealers: Grand Junction CO
- Western Slope Toyota. 2264 Hwy 6 And 50. ZIP: 81505
- Camden Motors. 2148 Broadway. ZIP: 81507
- Loewen Motor CO. 935 N 1st St. ZIP: 81501
- G J Auto Sales LLC. 123 Ute Ave. ZIP: 81501
- Pine Country Truck & Auto. 2514 Hwy 6 And 50. ZIP: 81505
- Top of the Hill Sales. 1663 Hwy 50. ZIP: 81503
- Studebaker Auto. 2302 Hwy 6 And 50. ZIP: 81505
- Marconi’s Auto Sales. 124 N 1st St. ZIP: 81501
- Valley Auto. 336 S 5th St. ZIP: 81501
- Simpson Auto. 2540 Highway 6 And 50. ZIP: 81505
- Desert Auto. 2674 Highway 50. ZIP: 81503
- Terry Auto Sales & Pawn. 534 North 1st Street. ZIP: 81501
- Rimrock Trade Center LLC. 2541 Highway 6 And 50. ZIP: 81505
- Belcastro Auto Sales & Leasing. 841 North 1st Street. ZIP: 81501
- Zipper Motors. 2146 Highway 6 And 50. ZIP: 81505
- Lone Eagle Motor CO. 139 North Avenue. ZIP: 81501
- Performance Center. 616 North 1st Street. ZIP: 81501
- Monte’s Quality Auto Sales. 333 South 12th Street. ZIP: 81501
- Nadeau’s Auto. 353 Pitkin Avenue. ZIP: 81501
- Western Slope Auto Company. South Highway 6 & 50. ZIP: 81505
- Star Auto Sales. 908 North 1st Street. ZIP: 81501
- Fairway Auto Sales. 549 Bogart Lane. ZIP: 81505
- Badini Auto Sales. 901 North 1st Street. ZIP: 81501
- J & M Auto Sales. 2657 Highway 50. ZIP: 81503
- Haley’s Auto Sales & Services. 261 North Ave. ZIP: 81501
- Armantrout Auto Sales. 2950 North Avenue. ZIP: 81504
- Carville’s Auto Mart. 2122 North Avenue. ZIP: 81501
- Grand Valley Auto Sales. 2800 North Avenue. ZIP: 81501
- Dalton’s Auto. 630 North 1st Street. ZIP: 81501
- Metro Motors. 2888 North Avenue. ZIP: 81501
- Covenant Motors and Repair. 341 South 9th Street. ZIP: 81501
- Best Buy Auto. 2785 D Road. ZIP: 81501
- West Side Body & Paint. 340 South 13th Street. ZIP: 81501
- Mike’s Auto Inc. 2561 Highway 6 And 50. ZIP: 81501
- Car-Tunes. 1105 North 1st Street. ZIP: 81501
- A B C Pawn-Auto Sales. 2720 Highway 50. ZIP: 81503
- Modern Classic Motors Inc. 975 Independent Avenue. ZIP: 81505
- Dan’s Auto Sales. 494 29 Road. ZIP: 81504
- Maxim Motors. 1002 Pitkin Avenue. ZIP: 81501
- Western Slope Chry Ply Dge. 2578 Highway 6 And 50. ZIP: 81505
- Grand Junction Park and Sell. 931 North 1st Street. ZIP: 81501
- Modern Classic Motors Incorporated. 975 Independent Ave. ZIP: 923
- Western Slope Auto Ford Lincoln Mercury & Toyota. 2264 Highway 6 And 24. ZIP: 84515
- Intermountain Auto Sales. 2120 Highway 6 And 24. ZIP: 84515
- Grand Junction Chrysler Jeep Dodge. 2578 Us-6, #50. ZIP: 84515
- Grand West Kia – New & Used Cars. 2980 Us-50. ZIP: 84515
- Western Slope Auto Company. 2264 Highway 6 And 50. ZIP: 84515