Most Frequently Asked Financing Questions  Mar 13th, 2018 

Very often I get asked what the down payment, monthly payment and interest rate will be and sometimes if they'll be approved on a car loan before the customer gives me a credit application.

So this is how financing Works.  

Term: (number of months a vehicle can be financed) is determined mostly by miles and year of the vehicle and can range from 12-52 months for a pre-owned vehicle.  

Monthly Payment:  Your gross monthly income and debt to income ratio (how much you of your monthly income is already spent) will determine the maximum payment you can afford.  Usually between 17%-20% of your gross monthly income.

When you factor in the interest rate you qualify for, the term the car can be financed for and the payment you can afford you get the Amount that can be Financed.  The difference between your "Amount Financed" plus tax (minimum 10% of the total cost of the car) is your minimum down payment.

The more you put down, the lower your monthly payment can be and you’ll lose less cash to interest.

These are steps that all legitimate lenders use to set their customers up for success.  Many Buy Here Pay Here Dealerships actually plan to repossess your car and resell it, so watch out for that.  To find out how expensive of a car you can afford for yourself check out this calculator.

If you'd like to fill out an application please visit our secure website at  and click on the financing tab.

These are steps that all legitimate lenders use to set their customers up for success.

Here is an example to give you an idea.

A car that cost $10995 plus $395 for tax title and tag financed over 42 months at 14% and $2000 down

would come out to $284.08 per month.  

Can't you, Northside Auto, get me financed?

We are not a buy here pay here but we can assist with financing! We use banks, credit unions and finance companies to find the best deal for you and your specific situation. Typically we look for a credit score above 500 and no resent or multiple repossessions. We have a first time buyers specifically for folks in SC.

All that said, a strong down payment of 25-50% can over come a lot of credit issues!