Ed G. has just submitted a car loan application from Johnstown, PA.
Sep 25, 2016 - 6:15 am
Beth X.'s loan application has just been processed from a buy here pay here in Johnstown, PA.
Sep 25, 2016 - 5:39 am
Tracy I.'s auto loan application has just been approved by a Johnstown buy here pay here car lot.
Sep 25, 2016 - 6:56 am
Johnstown, PA Auto Loans
Buy Here Pay Here Car Dealers in Pennsylvania
Pennsylvania residents in and around Johnstown can get approved for an auto loan, even with bad credit.
Why do People Get Financed With Us?
- Extensive Lending Network - Buy here pay here car dealers in our exclusive network are eager to get you into a new or used car, regardless of your financial history.
- Fast Application Process - Our quick and painless online application form is Step #1 to your new car. Apply online, 24 hours a day.
- Easy Approval Requirements - Min $1,500 gross monthly income, no repos within 1 year unless included in bankruptcy, U.S. or Canadian residents over 18 years old, no motorcycle or private party loans.
- One-Stop Convenience - Once you apply, a dealer representative will contact you to discuss the details. Then just visit the dealership car lot, pick out your new wheels, close your loan and drive away!
- Specialized Local Services - Connecting consumers with financing for new and used cars is what we do every day, and we have helped millions of consumers like you.
When you are ready to purchase a new or used vehicle there are many different financing terms that are used. Below are the terms often used and the definitions of those terms to help you understand exactly what the dealer is referring to when these terms are used.
Amortization is the principal and interest on a loan and the Annual Percentage Rate (APR) is the cost of the credit. An "assignee" is the specific financial institution that purchases the contract from the dealer. If a consumer gets financing from an outside lender is usually through a bank or credit union while "on-site financing" is getting a loan directly through the dealership. The "balance" is the amount owing on the loan and a "loan" is borrowing money for the purchase of the vehicle.
The amount that the interest rate can fluctuate on an adjustable rate loan is referred to as the "cap" while the highest monthly payment that may be obtained is referred to as the "cap payment". A finance company that is privately owned by a manufacturer and is set-up to finance a dealers' automobile inventories, or make loans to car buyers, is referred to as a "captive finance company".
Sometimes it is necessary to have a "co-buyer". This is a person who is willing to assume responsibility of the repayment of a loan. If a purchaser has a low FICO score, a co-buyer, also referred to as a co-signer, can help get finance approval. Sometimes the finance company will allow a consumer to use "collateral" to ensure the repayment of a loan. If the loan is not paid then the asset used as collateral will be lost. You will be in "default" or considered a "default account" if this situation happens.
Once the loan has been prepared and the terms are agreeable between you and the seller you will "close" the deal. The term "closing" simply mean that the money has transferred from the buyer to the seller legally and the ownership is transferred into the buyer's name. At this time the information is given to the consumer about the financing and the entire transaction. This is referred to as the "disclosure".