Bad Credit Auto Loans in Jasper (AL)

Here at Alabama Auto Finance, we get our users approved for financing with no fees, no hassles, and no obligations. Our application placement platform takes the headache out of getting a loan. Simply submit your application, and we’ll work to get you approved from a dealer or lender that suits your needs.

Our application process is a great choice for applicants with problematic credit. We have dealers and lenders who help people with subprime credit scores, and they are hoping to fund your loan. Sure, the APR on your loan won’t be as low as someone with a credit score of 700 or higher, but that’s to be expected. If you have below-average credit, you’ll typically be matched with a bad credit dealership or auto finance company. Typically, they submit information to the credit agencies. This is a prerequisite for restoring your credit. Apply Online!

How Much Am I Eligible to Finance?

The chart that follows shows you how much you can borrow, given a monthly income of $1,989, the average in Jasper. These amounts are just estimations. You may qualify for more or less, depending on other factors. Speak to a vehicle finance agent for more information.

Credit Score Income Factor Sum
Great Credit 10 $19,890
Fair Credit 9 $17,901
Slow Credit 8 $15,912
Poor Credit 7 $13,923
Really Bad Credit 6 $13,923

Of course, these are simply approximations. For an exact quote, please submit your application.

Zero Down Auto Loans in Jasper?

We do have lenders in our network who offer auto loans with no down payment, even for people with credit problems. However, a down payment is a good idea because it lowers your monthly payment, the amount of total interest, and problems with negative equity. Listed here are the ideal down payments for new and pre-owned vehicles.

  • Pre-Owned Vehicle: 10%
  • New Vehicle: 20%

Still, we understand that down payments are hard to come by given the current economic climate. Our approval platform can probably help you find a lender or dealer who’s willing to accept your down payment, or lack thereof.

In House Financing Car Dealers in Jasper

The majority of buy here pay here dealerships consider down payments mandatory. These dealers specialize in helping people who wouldn’t be approved by a traditional lender. The annual percentage rates are always expensive, but they typically offer guaranteed credit acceptance.

Sadly, most in house financing dealerships cannot help buyers rebuild their credit. Often, you would be better off applying online through our website, so we can find you a car loan in Jasper that has better rates and terms.

Jasper-Specific Credit, Income Numbers

Listed below are some average stats for residents of Jasper.

  • Pre-Tax Income: $1,989 Monthly
  • Average Monthly Payment: $219 (11% of Income)
  • Ideal Car Payment: $159 to $199 (8%-10% of Income)

Jasper Population by Credit Score

Here we have divided up Jasper’s population by FICO score. These are just estimates, but they should give you a general idea of where you stand in relation to other consumers in the area.

FICO Score % of Population Residents
300-499 2% 679
500-549 5% 1,697
550-599 8% 2,716
600-649 12% 4,074
650-699 15% 5,092
700-749 18% 6,110
750-799 27% 9,165
800-850 13% 4,413