Debt is a killer for people that want to buy a car. If we were to help you buy a car with a large amount of debt that already existed we would say start paying on it now.
Atlanta car dealers look at your debt for a car
Yes car dealers in Atlanta Georgia aren’t has friendly when the debt to income ratio is through the roof. But we can still help you in the way of narrowing down the car dealers that will benefit you the most.
Once you have the debt solution tied up. Because no bank or car dealership is going to loan you any money with 65% of your money being debt they don’t even like 50%.
You want your debt to be around 20% when you’re buying a car and nothing more. Once you have decided on buying a car don’t think about making any other big purchases with a credit card.
Down payment vs debt for Atlanta used cars
Down payments can be hard if you have debt because you don’t know what to pay or hold onto. Its okay pay down what you can and keep chipping’ at it. Debt is the number 1 reason why we are in trouble.
You may ask how does paying down your debt help. Well it allows you to search for the car you want. But at Quickcarloansnow.com we encourage a used car when your debt is kind of high.
Used Car Options with Debt in Atlanta
With a used car in Atlanta you will have more options and might get the price down even more than a new car.
Many car dealers in the Atlanta area offer no money down options available on most of the cars. So that’s another good reason to pay down the debt you may already have.
Car loans can be offered with debt. You can get a $15,000 car loan with any debt but that’s not what’s going to hurt you, the interest on that loan is massive.
So that’s why push you to pay off the debt so that you can get the interest rate you can pay the car loan off with. Paying a lifetime on a car loan is not ideal for any car buyer in Atlanta Georgia.