Bad Credit Auto Loans in Gretna (LA)

Here at Louisiana Auto Finance, we take great pride in getting our clients approved for financing with no fees, hassles, or obligations. We have relationships with lenders and dealers in Gretna and across Louisiana who want to approve your credit – today! The actual application is entirely web-based, and many applicants are approved the same day.

Bad Credit Car Dealers in Gretna

Special Finance is our specialty. If you go from bank to bank, completing your application by hand, you may be rejected a few times. Our system is a lot more convenient: you can apply from the privacy of your home or office, and we’ll find a bad credit car dealership willing to get you behind the wheel. Income is their first concern, not credit score. A down payment and income verification will often be expected for any bad credit auto loan in Gretna, but most people who apply through us are approved right away. Let us find you a bad credit car dealership in Gretna ready to approve you for financing – and since we’re compensated by the dealers directly, it’s free! Apply Online!

Estimating how much you can borrow is pretty easy. What you need to do is multiply your monthly income by the income factor associated with your credit score. We’ve included an example, based on the average income of Gretna residents: $1,933.

Credit History Income Factor Amount Borrowed
Excellent Credit 10 $19,330
Fair Credit 9 $17,397
Temporary Bad Credit 8 $15,464
Poor Credit 7 $13,531
Horrible Credit 6 $13,531

To find out your own loan amount, multiply how much money you get paid on a monthly basis by the most suitable income factor.

Financing a Car with No Down Payment

Good credit? If so, you might not need to bother with a down payment. But if your credit is sub-standard, your dealer may require you to supply a down payment. This is because lending to consumers with bad credit is a much riskier process, and a down payment makes sure that at least a percentage of the vehicle’s value is not on the line. What’s promising is, as the automotive market recovers, more and more lenders and dealers should be able to approve auto loans with no money down.

Submit your application. We’ll work tirelessly to place your application with a lender or dealer who can approve you for financing, zero down payment required.

Buy Here Pay Here Car Dealers in Gretna

Nearly all buy here pay here car lots consider down payments obligatory. Dealers like these do on-the-lot financing, rather than outsourcing this to third-party finance companies. The interest rates are steep, but acceptance will likely be guaranteed.

We recommend that you avoid these Gretna in house financing dealerships, opting instead for a bad credit car loan arranged through us. Submit your application – it takes less than 3 minutes.

Credit and Income: Gretna

Listed below are some average statistics for Gretna residents.

  • Gross Earnings: $23,192 Per Annum
  • Average Monthly Payment: $213 (11% of Income)
  • Recommended Monthly Payment: $155 to $193 (8%-10% of Income)

Below-average credit. It’s quite common in Gretna and across the state of Louisiana. The table below depicts the estimated number of Gretna consumers at each credit level.

FICO Score % of Population Residents
300-499 2% 1,140
500-549 5% 2,850
550-599 8% 4,561
600-649 12% 6,841
650-699 15% 8,551
700-749 18% 10,261
750-799 27% 15,392
800-850 13% 7,411