Bad Credit Auto Loans in Wetumpka (AL)

Hoping to arrange your financing before heading off to the dealership? You’ve come to the right place. Our system is fast, safe, and effective. Users who meet the minimum criteria have a 90% chance of being approved. Apply online, and we will find you an auto loan that meets your needs.

Bad Credit Car Dealerships in Wetumpka

Less-than-perfect credit? Not to worry. We make it easier to find an auto loan in Wetumpka, even if your history of credit is less than perfect. If you went from bank to bank, submitting applications, you’ll probably get turned down once or twice. Our process is significantly more streamlined: you can apply from the privacy of your home or office, and we’ll find a bad credit car dealer in Wetumpka who wants to get you in the driver’s seat. Income is their primary concern, not credit rating. A down payment, as well as proof of income may be expected for any bad credit auto loan in Wetumpka; however, most applicants get approved within minutes. You’ll probably be approved by a lender or dealer in Wetumpka that finances subprime credit. Fortunately, they will report to the credit agencies, which is crucial to reestablishing your credit. It’s easy. Just submit your online credit application.

How Much Do I Qualify to Borrow?

The chart below shows a wide array of loan amounts, derived from a monthly income of $4,195, the average in Wetumpka. These figures are simply estimates. You may qualify for a different amount. Talk with a vehicle finance specialist to find out more.

Credit Income Factor Loan
Excellent Credit 10 $41,950
Decent Credit 9 $37,755
Subprime Credit 8 $33,560
Poor Credit 7 $29,365
Really Bad Credit 6 $29,365

Simply because it’s possible to borrow a particular amount, doesn’t mean you ought to. A smaller loan is a good idea, because you will pay less interest, and your monthly installment will be lower.

Wetumpka Car Loans, No Money Down?

Don’t have a down payment? In many instances, this won’t prevent you from getting approved. Having said that, providing a down payment gives you significant advantages:

  • Reduces the length of the loan, meaning you pay less in interest.
  • Decreases monthly repayment.
  • Protects against the risks of an upside down loan.

Nevertheless, modern day lenders and dealers realize that down payments take a lot more effort and time in this economic climate. We get people into a new car all the time, despite issues with their credit and down payment. Apply today!

Buy Here Pay Here Car Lots in Wetumpka

If you’ve been through a bankruptcy or repossession, you have possibly thought about going to an in house financing car lot in Wetumpka. These dealers do their own financing, rather than relying on a list of affiliated lenders. They specialize in helping people with problems like open bankruptcy, foreclosure, or repossession within the last year.

It’s usually best to eschew buy here pay here dealers, instead securing an auto loan from a bad credit car dealership in Wetumpka offering rates of interest that aren’t so high. Apply online – no minimum credit score required.

Wetumpka-Specific Credit, Income Numbers

Banks, dealers, and lenders are interested in much more than just your credit rating. Lenders review the following:

  • Ability
  • Stability
  • Credit History

Listed here are average stats for Wetumpka residents.

  • Gross Income: $4,195 Per Month
  • Average Car Payment: $461 (11% of Income)
  • Recommended Monthly Payment: $336 to $420 (8%-10% of Income)

Wetumpka Consumers by Credit Tier

Here we have broken down Wetumpka’s population by credit rating. These are just estimations, but they should give you a sense of where you stand in relation to other consumers in the area.

FICO Score % of Population Residents
300-499 2% 482
500-549 5% 1,206
550-599 8% 1,930
600-649 12% 2,894
650-699 15% 3,618
700-749 18% 4,342
750-799 27% 6,512
800-850 13% 3,136

Not where you want to be in terms of credit? Don’t worry, we can help virtually any applicant, as long as they have an income of $1500 per month or higher, no matter what their credit score is.