Bad Credit Auto Loans in Harvey (LA)

If you want to secure financing for a new or used vehicle, you’ve come to the right place. More and more dealerships, banks, and other lenders now have entire departments specializing in online applications, and we can help you put together your loan straight from your computer. Apply online, and we will match you to a lending company based on your location, your finances, your down payment, and more.

Harvey Bad Credit Car Dealerships

Bad credit can be a hurdle when trying to finance a new vehicle, but not with Louisiana Auto Finance. We have lenders and dealers who work with FICO scores of 620 and lower, and they are hoping to approve you to finance the vehicle you want. A down payment and monthly income of $1500 per month will typically be expected for any bad credit car loan in Harvey. Fortunately, users are approved nearly instantly. If you have a bad credit score, you’ll probably be approved by a bad credit dealership or auto finance company. These companies report your payments to the credit reporting agencies, which is great when you need to improve your credit. Applying is simple, fast, and hassle-free. Just apply online, and we’ll help you find a bad credit auto loan in Harvey that will get you behind the wheel.

Auto Loan Pre-Approval in Harvey: What Size Loan?

Naturally, the amount of the loan essentially dictates your choice of vehicle, so it’s always top of mind for our clients. Below, we’ve displayed how much people of various credit ratings can finance, given an income of $1,534 a month, the average in Harvey. Please know that these are only estimations.

Credit History Income Factor Sum
Great Credit 10 $15,340
Decent Credit 9 $13,806
Slow Credit 8 $12,272
Poor Credit 7 $10,738
Really Bad Credit 6 $10,738

Remember, these are merely estimates. For an exact quote, you must submit your application.

How Much Will I Have to Put Down?

Don’t have a down payment? No worries. However, providing a down payment is recommended because it lowers your monthly payment, interest paid, and problems with negative equity. Listed below are the suggested down payments for new and used vehicles.

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

Still, we realize that down payments tend to be difficult in today’s market conditions. Apply online, and indicate zero down payment in the appropriate section. We’ll place your application with a dealer or lender who can finance your purchase, zero down payment necessary.

In-House Car Loans in Harvey?

In Harvey, buy here pay here car lots now constitute a considerable portion of the market, because of the economic slowdown. Dealers like these work with people who have been turned down by other lending companies. The rates of interest are always high, but approval is often guaranteed.

It’s usually best to steer clear of these dealerships in favor of an auto loan from a bad credit dealership in Harvey that can help you restore your credit. Apply today – we have dealers waiting for your application.

Credit and Income: Harvey

Though important, your credit rating is just part of the equation. Lenders look at such things as:

  • Ability
  • Employment History
  • Payment History

Below are some average statistics for Harvey residents.

  • Average Earnings: $1,534 Per Month
  • Average Car Payment: $169 (11% of Income)
  • Ideal Monthly Payment: $123 to $153 (8%-10% of Income)

Consumer Credit in Harvey

If you’ve got a bad credit score, you aren’t alone. This table shows the estimated number of Harvey residents at each credit level.

FICO Score % of Population Residents
300-499 2% 852
500-549 5% 2,129
550-599 8% 3,407
600-649 12% 5,110
650-699 15% 6,387
700-749 18% 7,665
750-799 27% 11,497
800-850 13% 5,536

No matter what your credit rating is, we can help. We help credit-seekers of all credit scores and income brackets. That’s our primary goal.