SC New Car Dealer Prices

Car Dealers in South Carolina

Aiken Anderson Andrews Bamberg Barnwell
Batesburg Beaufort Beech Island Belton Bennettsville
Bishopville Blacksburg Bluffton Branchville Camden
Campobello Cayce Chapin Charleston Cheraw
Chesnee Clinton Clover Columbia Conway
Cottageville Coward Darlington Dillon Easley
Edgefield Estill Eutawville Fairfax Florence
Fort Mill Fountain Inn Gaffney Gaston Georgetown
Goose Creek Graniteville Greenville Greenwood Greer
Hampton Hardeeville Hartsville Hemingway Hilton Head
Hilton Head Island Holly Hill Honea Path Irmo Jefferson
Johnsonville Johnston Kershaw Kingstree Lake City
Lamar Lancaster Laurens Lexington Little River
Loris Lugoff Lyman Manning Marion
Moncks Corner Mount Pleasant Mullins Myrtle Beach New Ellenton
Newberry North Augusta North Charleston North Myrtle Beach Olanta
Orangeburg Pageland Pamplico Pawleys Island Pelzer
Pickens Ravenel Ridgeland Rock Hill Saint George
Saluda Scranton Seneca Simpsonville Spartanburg
Summerville Sumter Taylors Travelers Rest Travelers Rst
Turbeville Union Walhalla Wallace Walterboro
Warrenville West Columbia West Union Williamston Williston
Winnsboro Woodruff York

Cheaper Dealers : Find A Dealer : South-Carolina Car Dealers

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South Carolina Bad Credit Car Loans
(05/09/2012 07:47 PM)

With an average credit score of 665, South Carolina residents suffer from the fifth-worst credit in the union. That can make financing a car a tough proposition, if not downright impossible at traditional banks and dealerships, most of which rarely approve auto loans for people with credit scores below 619 or so. Of course, that doesn’t change the fact that most South Carolina residents need a car no matter what their credit history says about the borrowing risk they represent to creditors. And that means they need a car loan.
South Carolina Buy Here Pay Here Car Dealers
The best alternative for those who have been previously rejected may be a car dealer who advertises his services with such slogans as “Buy Here and Pay Here” or “We Finance.” These dealers cater to applicants in need of second chance vehicle loans. Instead of relying on off-site, third-party lenders to approve financing, they extend credit out of pocket to their customers. This is called Buy Here Pay Here financing.

Getting Approved at Buy Here Pay Here Car Dealers in South Carolina:

Despite the fact that local SC buy here pay here car lots will often approve even the very worst credit, there are actions you can take to increase the odds you get approved. These include offering a down payment of, ideally, $2000 or more, as well as finding a co-signer and making sure your income exceeds $1500-$1800 per month.

A note about credit checks: whenever a lender performs a credit check, it is reflected on your credit report as a hard inquiry and can ding your score by 5 points for a duration of 6 months. The good things it that an auto loan will gradually increase your score as long as it is paid off month in and out.

SC Buy Here Pay Here Disadvantages

High interest rates, frequent payment requirements, and more risk of negative equity are all potential drawbacks to this type of financing. On the other hand, BHPH might be the only way to get into the driver’s seat with very bad credit. Dealer scams and vehicle quality are 2 other aspects to watch closely. To avoid such predatory lending tactics, it’s recommended that car buyers adhere to the general rule-of-thumb that anything which sounds too good to be true probably is.