Bad Credit Auto Loans in Waverly (AL)

Looking for the best auto loan in Waverly? Great, we’re here to help. Our system is fast, secure, and effective. Applicants who meet the minimum criteria have a 90% chance of approval. Just apply online, and we’ll start working to get you the loan you need.

Bad Credit Car Dealerships in Waverly

Below-average credit can be a serious obstacle when it comes to financing, but not with us. If you simply go from lender to lender, completing applications, you might face some rejections. We offer a better alternative, in that you can apply online, and we’ll find a bad credit car dealer in Waverly who wants to approve your credit. Income is their first concern, not credit rating. A down payment and income verification will often be considered necessary for a bad credit auto loan in Waverly, but most people who apply through us receive their approval within minutes. We can help you find a bad credit car dealer or lender in Waverly who’s ready to approve you for financing – online! Apply Online!

The chart that follows shows multiple loan amounts, derived from a monthly income of $2,278, the average in Waverly. These numbers are simply estimations. You may qualify for a different amount. Contact an auto finance specialist for more information.

Credit Rating Income Factor Loan Amount
Great Credit 10 $22,780
Fair Credit 9 $20,502
Temporary Bad Credit 8 $18,224
Poor Credit 7 $15,946
Really Bad Credit 6 $15,946

Remember, the amounts listed above are estimations. For an accurate quote, you must submit your application.

No Money Down Car Loans?

Don’t have a down payment? More often than not, this won’t prevent you from being approved. However, a down payment is recommended because it reduces your payment, total interest, and problems with being upside down. Here are the ideal down payments for new and pre-owned vehicles.

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

With that said, we understand that down payments are especially problematic these days. Apply online, and enter a zero in the down payment field. We will place your application with a lender willing to offer you the loan you need, zero down payment required.

Buy Here Pay Here Car Dealers in Waverly

Nearly all buy here pay here car lots will want you to provide a down payment, often a large one. These dealerships do their own financing, instead of working with third-party lenders. The annual percentage rates are high, but they typically offer guaranteed credit acceptance.

It’s usually best to eschew buy here pay here car lots in favor of a car loan from a bad credit car dealership in Waverly offering rates that aren’t so penal. Apply online – financing specialists are ready to review your application.

Credit and Income: Waverly

Banks, dealers, and car loan companies are worried about a lot more than just your credit score. Loan companies consider the following:

  • Income
  • Employment History
  • Credit History

Below are some average statistics for Waverly residents.

  • Average Income: $2,278 Monthly
  • Average Monthly Payment: $251 (11% of Income)
  • Recommended Monthly Payment: $182 to $228 (8%-10% of Income)

Waverly’s Credit Spectrum

If you have below-average credit, you aren’t alone. This chart depicts how many people in Waverly are in each credit tier.

FICO Score % of Population Residents
300-499 2% 568
500-549 5% 1,420
550-599 8% 2,272
600-649 12% 3,407
650-699 15% 4,259
700-749 18% 5,111
750-799 27% 7,667
800-850 13% 3,691

No matter where you find yourself in this chart, we’re here to help. We work with borrowers of all credit scores and income brackets. That’s what we do.