Let us make it easier to find a car loan in Lehi, UT. We’ve removed the stress when it comes to auto financing in Lehi and across Utah. Your data will be protected by SSL (https) encryption.
Car Loan Basics
- To start, you will need to submit your application online.
- We connect you, when possible, to the best Utah car loan company for your location, income, and down payment.
- Finalize your car loan documents and pick out your car or truck from a local car dealership.
Follow this link to submit your secure application.
Income and Credit Rating
- Average Lehi Income: $1,489 Monthly
- Average UT Credit Score: 683
The majority of auto loan lenders will expect you to have a regular job with $1500 income monthly, and your level of existing debt, inclusive of your auto loan, must not be more than one half of how much you make per month. In Lehi, Utah, this equates to $745 (average).
Even when your income doesn’t satisfy the aforementioned conditions, it’s likely that you’ll be able to meet the requirements by going above and beyond in one or more of the following ways:
- Provide a Co-buyer
- Provide a Larger Down Payment
- Go with Your Job is Your Credit Auto Loans.
Used Auto Car Loans: Lehi (UT)
What amount should you be spending on an auto loan? Well, let me suggest a good rule of thumb: invest no more than 18-20 percent of your monthly income for things like your:
- Car Payments
For the average Lehi resident, this equates to $268-$298 a month. Under no circumstances should you invest more than this.
Buying a Car with Bad Credit in Lehi, UT: Getting Approved
It’s essential to plan thoroughly for your car loan in Lehi, UT. So please don’t dedicate over 15% of your income a month toward repaying your bad credit auto loan.
- $223: 15% of average income in Lehi, UT
- $74: 5% for fuel, maintenance, etc.
Furthermore, you’ll want to offer the biggest down payment you can. New cars and trucks depreciate immediately, but a down payment compensates for this.
Declaring bankruptcy or having your motor vehicle repossessed typically decreases your credit score in a big way. Have you been worried that it won’t be possible to get auto financing after bankruptcy or repossession? It probably won’t be easy, exactly, but we can help you find loan companies who provide car loans for folks with bankruptcy in Lehi, UT.Of course, the car loan company will expect you to pay a high rate and offer at least 20% down.
Dealerships That Offer In-House Financing in Lehi (UT)
Interested in purchasing a used car or truck in Lehi, UT with no credit check? Buy here pay here dealerships might be your only option. These car lots may be referred to as: Tote the Note, Your Job is Your Credit, or in house financing dealerships in Lehi, UT.
These types of auto loans are often provided without a credit check. Regrettably, you’ll want to keep in mind some potential cons. These include excessive rates of interest, substantial down payments, much higher risk of predatory financing tactics, and minimal vehicle selection.
Even when you have adverse credit, you may be able to get approved for the Utah auto loan you need without turning to buy here pay here financing.
Places That May Offer Car Credit in Lehi (UT)
- Adamson Joe Auto & RV, 414 E Main St, 84043
- Lorenzo Motorsport, 260 East State Street, 84043
- K & S Auto Sales, 441 West Main Street, 84043
- Transwest Auto Parts, 255 East State Street, 84043