Bad Credit Auto Loans in Alexandria (LA)

We understand that getting approved for a car loan can be a hassle. That’s why we launched our system for online credit acceptance. Our extensive network of Louisiana dealers and lenders is standing by, waiting for your application. This is how it all works:

  1. Apply for your Alexandria auto loan online.
  2. Check your inbox for your approval status.
  3. Once your application has been placed, work with your finance specialist to finalize your paperwork.
  4. Now you can purchase your vehicle.

Sound simple? It is!

Apply Online!

Dealers in Alexandria That Finance Bad Credit

Special Finance is one of our specialties. If you just were to go from lender to lender, submitting applications, you may experience some denials. With our process, you can apply just once, and we’ll find a lender in Alexandria who can approve your credit, even if your credit isn’t ideal. Yes, bad credit scores translate into higher interest rates, which means it’s vital that you finance a cost-effective car or truck with easily-affordable payments. And, keep in mind, a paid-as-agreed car loan is an excellent way to boost your credit ratings. So let us find you a lender or dealership who finances bad credit – online!

Financing Pre-Approval in Alexandria: What Size Loan?

The amount you’ll be eligible to finance is largely determined by your income and credit. The following chart details how much applicants of varying credit scores can borrow, based on the average monthly income in Alexandria, $981. Please bear in mind that these are only estimations.

Credit Income Factor Sum
Great Credit 10 $9,810
Fair Credit 9 $8,829
Temporary Bad Credit 8 $7,848
Bad Credit 7 $6,867
Terrible Credit 6 $6,867

As we stated previously, these are only estimations. For a precise quote, please submit your application.

Should I Offer a Down Payment?

No down payment? Often, this won’t prevent you from getting approved. However, a down payment is a smart choice because it reduces your payment per month, total interest, and risk of negative equity. An excellent down payment is 20% for a new vehicle, and 10% for a used one.

That said, you no longer need a down payment to get pre-approved. Apply online. We’ll match you with a lender who can approve you for financing, zero down payment necessary.

Buy Here Pay Here Car Lots in Alexandria

In Alexandria, buy here pay here car lots have become the last resort for many car shoppers, mainly due to the credit crunch. These dealers approve people for financing in-house, rather than relying on off-site lenders. Payments are made to the dealership, often weekly, and the vehicles they sell are usually less than $10,000.

We recommend that you eschew these kinds of car lots, instead securing an auto loan from a bad credit dealer in Alexandria with more reasonable rates and conditions. Apply today – there is no fee or commitment.

Credit and Income: Alexandria

Listed below are some average statistics for residents of Alexandria.

  • Pre-Tax Earnings: $11,770 Annually
  • Average Car Payment: $108 (11% of Income)
  • Ideal Monthly Payment: $78 to $98 (8%-10% of Income)

Poor credit. It’s fairly common these days in Alexandria and across the state of Louisiana. The chart below depicts the estimated number of Alexandria consumers at each level of the credit spectrum.

FICO Score % of Population Residents
300-499 2% 1,148
500-549 5% 2,869
550-599 8% 4,591
600-649 12% 6,886
650-699 15% 8,607
700-749 18% 10,329
750-799 27% 15,493
800-850 13% 7,460

When you’re ready, we can help you find Alexandria bad credit car loan you need. It’s easy to submit your application.