How to Structure Your Loan in State College, PA

Happy Valley Car Credit: Helping You Structure Your Car Loan to Give You the Best Chance at Success

The world of auto finance can be an intimidating one, especially if you are a Bellefonte, PA customer with bad credit.  When you have challenged credit, it can sometimes feel like the whole world is against you and that there is no hope when it comes to buying or leasing a new car.  The problem is that the world keeps spinning and your need for a safe, reliable vehicle for your daily needs doesn't go away.  Where do you go to get help on knowing the ins and outs of auto financing?  Who can help you be the most successful when it comes to getting an auto loan?  The finance center at Happy Valley Car Credit, located at 3220 W College Avenue in State College, PA, is a great resource for helping you structure your car loan in a way to give you the most success in getting it approved.

The Importance of Knowing Your Credit

We can understand the inclination to not want to look at your credit report if you feel like you might have poor credit.  Unfortunately, ignoring the issues won't make them go away.  Every person in Tyrone, PA is entitled to a free copy of their credit report every year and taking advantage of that benefit is a great way to be informed and possibly save yourself some money with your auto loan.  There is the chance that there is some outdated, old information on your credit report that is still impacting your credit.  Filing a dispute to get that information removed is a great way to boost your credit score.  Also, taking care of any issue on your credit report so it can be removed is another excellent way of providing your score with a lift.  The higher your credit score, the lower your interest rate and the better terms you will be offered.  This can save you on finance charges and make the total cost of your loan much lower.

Saving for a Down Payment

A very important part of structuring your car loan is being able to put money down.  This will make your auto loan application look much more attractive to a bank because you will be financing a lower percentage of the overall purchase.  Altoona, PA customers should put down at least 20 percent of the total purchase down.  The percentage can include the equity in a vehicle you are trading in.  Putting money down for your next vehicle is also important because it puts you in a better position driving off the lot.  As you may or may not know, a car depreciates when you drive it off the lot.  Putting money down and reducing the cost of the automobile means that you will be taking less of a depreciation hit.  When buying a new car, truck, SUV, or minivan, you should also consider paying the taxes, fees, and extras with cash if you can so you can lower the amount you are financing and need to pay back.

Keeping Your Loan Term Short

There is a temptation for Lewistown, PA customers to stretch out their loan term to get the lowest payment possible, but that might not be advantageous for many reasons.  There are higher interest rates for longer terms which means your loan will be more expensive in the long run.  This is combined with the fact that you will already be taking a longer time repaying the loan.  By going with a shorter term, you will be paying the loan off sooner and the overall cost will be much less.

Come to Us and Learn More

The finance team at Happy Valley Car Credit, in State College, PA, has a variety of loan options, especially for those with poor credit.  Contact us today to learn more about structuring your auto loan effectively and take the first step towards getting your next car, truck, SUV, or minivan.


Happy Valley Car Credit

3220 W College Ave
Directions State College, PA 16801

  • Sales: (814)-238-2447