New study from AAA shows how auto loans for bad credit customers in Portland Oregon can pick a smaller and more affordable vehicle that can help them better navigate the bad credit car loan credit repair process
How picking the right car can help
If you’re reading this, you are probably wondering how bad credit web sites such as www.autonetfinancial.com have helped thousands of applicants in The City of Roses just like you repair their auto credit. The answer is simple: By filling out our online car loans with bad credit auto loan application and avoiding a tote the note dealer, applicants from Bridgetown and the surrounding areas can begin a new chapter in their lives by getting approved at one of our associated dealers for a second chance auto loan. Along with paying the rest of your obligations on time, you will then be able to re-establish your car credit and, at the same time, raise your FICO scores.
One other reason many P-Town consumers visit our web site is because we’re truthful about what it takes to do this. We will let you know that the process can be an expensive one because of the high interest rates associated with bad credit auto loans.
You can also make car loans with bad credit more expensive by choosing the wrong kind of car. A vehicle that’s too expensive can stretch the budgets of many credit-challenged Portland consumers and, in some cases, this can result in repossession. Once this happens, the only remaining choice for most Bridgetown buyers is a Tote the Note, We Finance Everyone car dealer. A repossession also means that rebuilding your car credit has to be put on hold for at least a year, since lenders associated with auto loans for bad credit will only consider applicants with a repossession that’s more than a year old.
Portland buyers should keep it small and simple
While many credit challenged applicants in Portland, Oregon may want to buy either an SUV or an expensive full-sized sedan, buying either one doesn’t make any sense at this point in time. The high interest rates charged by bad credit lenders will put the payment beyond the limits of most budgets, while insurance and fuel costs will make owning them even more expensive.
New AAA survey
This issue was brought home recently in a survey by AAA that pointed out that rising fuel prices were among the most important factors that lead to an increase in vehicle costs of 4.8 percent for sedan owners to 56.6 cents per mile.
Based on driving 15,000 miles per year, here are the average costs of driving a vehicle, based on its size and type:
Small sedan – 43.3 cents per mile or $6,496 per year
Medium sedan – 56.2 cents per mile or $8,436 per year
Large sedan – 70.2 cents per mile or $10,530 per year
Minivan – 62.0 cents per mile or $9,301 per year
4WD SUV – 73.9 cents per mile or $11,085 per year
These costs take into consideration depreciation, fuel, tire, and insurance costs.
Small sedans saw small increase
Here is what AAA said about small sedans, “The small sedan category experienced the smallest increase of the five categories of vehicles, rising only 2.9 percent from last year to 43.3 cents per mile or $6,496 per year, based on 15,000 miles of yearly driving. The minimal increase was primarily due to the increased popularity of small sedans led by higher fuel prices. It resulted in the small sedan category being the only one where depreciation costs were lower than last year, falling 1.9 percent.”
As we see it
When you apply for auto loans with bad credit in Portland it is simply not the time to buy your “dream car”. Instead, it’s time to focus on getting yourself back in the game of prime car financing. P-Town residents should pick the smallest and most affordable car that will fit their needs and save their “wants” for later.
Auto Net Financial has helped thousands of people in the Portland metropolitan area with bad, blemished, bruised, and tarnished credit buy cars and reestablish their auto credit at the same time. Our network of affiliate dealers in the Pacific Northwest specializes in bad credit car loans. So if you are serious about getting your credit back on track, you can begin the process right now by filling out our secure online bad credit car loan application.
For more information, feel free to visit www.autonetfinancial.com to see what we can do for you.
