Finance

Auto Financing in Warrenton, OR

Lum's Auto Center offers shoppers with bad credit and no credit in Warrenton, OR, the opportunity to buy a vehicle with affordable financing. At our dealership, we understand that unpleasant things can happen to good people, which leads to financial hardship, affecting their credit ratings. Many banks and credit unions will not be keen on lending money to those with bad credit history, making their vehicle shopping process stressful and embarrassing. Therefore, let our finance department help you in the auto financing process by offering you a fresh start. Scroll down to learn more about vehicle financing options at our dealership.

Online Credit Approval

What are the Documents Required for Auto Financing?

Interested applicants must provide records such as proof of auto insurance, driver's license, etc. when they visit the dealership. To make it easier, we have listed out some of the documents you will have to carry with you when you initially visit our dealership finance department:

1. A valid driver's license
2. Proof of insurance
3. Proof of residency
4. Proof of employment
5. Contact number verification
6. A list of personal references

Leasing a Car vs Buying

When it comes to getting behind the wheel of a new vehicle, many drivers face the decision of whether to lease or buy. Each option offers unique benefits and drawbacks depending on your lifestyle, budget, and long-term plans. Below, we break down the pros and cons of leasing a car versus buying, so you can make the choice that best fits your needs.

Leasing a Car

Learn more about the pros and cons of leasing:

Advantages:

• Lower monthly payments compared to buying.

• Lower or no down payment.

• Drive a new car every few years with the latest features.

• Fewer maintenance costs (most leases cover the warranty period).

• Option to walk away at the end of the lease term.

Disadvantages:

• You don’t own the car; no equity or asset at the end.

• Mileage limits with penalties for going over.

• Customization is usually not allowed.

• Early termination fees can be costly.

• Continuous monthly payments if you always lease.

Buying a Car

Learn more about the pros and cons of buying a car: 

Advantages:

• Full ownership once the loan is paid off.

• No mileage limits; drive as much as you want

• Freedom to modify or customize the car.

• You can sell or trade in the car anytime.

• More cost-effective in the long term.

Disadvantages:

• Higher monthly payments than leasing.

• Larger upfront costs (down payment, taxes, fees).

• Responsible for all maintenance and repair costs after warranty.

• Car value depreciates over time.

• Selling or trading in takes more effort.

Whether you prefer the flexibility and lower payments of a lease or the long-term value and ownership of buying, it’s important to weigh the pros and cons before making your decision. If you’re unsure which route is best, our finance experts at Lum’s Auto Center are here to guide you through your options and help you find the right fit based on your goals and budget. 

Get Auto Loan from Lum's Auto Center

Bad credit is often seen as an opportunity to charge more money from the customers, but Lum's Auto Center understands your situation and believes that no individual should be punished by denying financing or charging more interest rates. We strive to help people in need of a second chance. Visit our online finance page today or stop by at Lum's Auto Center in Warrenton, OR for further information.

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