Bad Credit Auto Loans in La Place (LA)

At Louisiana Auto Finance, we’ve streamlined the approval process. Our loan-finding platform makes it easy to get a loan. Simply submit your application, and we’ll work to get you the car loan you need.

La Place Bad Credit Car Dealers

Credit rating of 620 or less? This is generally regarded as subprime or poor credit, but our system is especially beneficial to applicants with credit problems. If you simply were to go from one lender to another, submitting applications, you’ll probably experience some denials. Our system is significantly more convenient: you can apply from the privacy of your home or office, and we’ll find a lender in La Place who is ready and willing to approve you for financing. Income is their first concern, not FICO score. A down payment, as well as income verification may be considered necessary for a bad credit car loan in La Place. Fortunately, users receive their approval within minutes. Plus, making regular payments on an installment loan like this is a good way to improve your credit ratings. So let us find you a lender or dealer that finances bad credit.

The chart below shows you how much you can borrow, given a monthly income of $1,845, the average in La Place. These numbers are simply approximations. You may qualify for a different amount. Speak with an auto finance agent for additional information.

Credit History Income Factor Amount
Good Credit 10 $18,450
Fair Credit 9 $16,605
Temporary Bad Credit 8 $14,760
Bad Credit 7 $12,915
Really Bad Credit 6 $12,915

To calculate your own loan amount, multiply your monthly income by the appropriate income factor.

Zero Down Payment Deals?

Assuming you have a good credit score, then yes: you can usually get a car loan without a down payment. Unfortunately, it’s considerably more difficult for people with below-average credit. The reason is simple: consumers with problematic credit pose a greater risk for the lender. Delinquency is more likely, and a down payment helps to ensure that some percentage of the loan has been secured. Having said that, we get many loan-seekers approval anyway.

Our application placement system can often find you a lender or dealer who wants to get you behind the wheel, whether you can put money down or not.

In House Financing Dealerships in La Place

If you have really bad credit, chances are you are at least aware of buy here pay here dealers. Shoppers who cannot secure financing because of seriously bad credit often wind up at these types of dealerships. They finance people with issues like bankruptcy or repossession on their record.

Having said that, most of these dealerships don’t help consumers re-establish their credit. In most cases, it is best to apply online through us, so we can find you a car loan in La Place that can help you repair your credit.

Credit and Income: La Place

There’s more to auto financing than just your FICO score. Lenders review your income, stability, and credit history.

Listed here are average statistics for residents of La Place.

  • Average Income: $22,134 Per Annum
  • Average Monthly Payment: $203 (11% of Income)
  • Recommended Monthly Payment: $148 to $185 (8%-10% of Income)

Consumer Credit in La Place

Less-than-perfect credit. It’s quite common these days in La Place and across Louisiana. The chart below depicts the estimated number of La Place consumers at each level of the credit spectrum.

FICO Score % of Population Residents
300-499 2% 609
500-549 5% 1,523
550-599 8% 2,437
600-649 12% 3,655
650-699 15% 4,569
700-749 18% 5,483
750-799 27% 8,225
800-850 13% 3,960