Bad Credit Auto Loans in Leesville (LA)

At Louisiana Auto Finance, we arrange auto loans for people of all credit types and incomes. Many lenders and dealers have whole departments specializing in online applications, and we can get you approved from the comfort of your own home or office. When you apply online, the dealers and lenders in our network compete to fund your loan.

Bad Credit Car Dealerships in Leesville

Below-average credit can be a big challenge when it comes to financing, but not when you submit an application through us. There are three “bad credit” credit tiers:

  • Tier 3/C: 580-660
  • Tier 4/D: 520-580
  • Tier 5/F: 250-520

Whatever your score, we have lenders that want to get you into a new car. Yes, bad credit scores mean higher rates of interest, but at least we can get you behind the wheel of a new car. Don’t delay. Let us find you a lender or dealership who finances bad credit.

Loan providers work out how much you qualify to borrow based on your income and credit score. This chart displays how much applicants of various credit scores can borrow, based on the average monthly income in Leesville, $1,728. Bear in mind, these are only estimations.

Credit Rating Income Factor Loan Amount
Great Credit 10 $17,280
Fair Credit 9 $15,552
Temporary Bad Credit 8 $13,824
Poor Credit 7 $12,096
Really Bad Credit 6 $12,096

Simply because you’re able to borrow such an amount, doesn’t mean you should. A smaller loan is advised, because you will pay less interest, and your payment amount will be smaller.

How Much Will I Owe at Signing?

We have many lenders in our network who don’t require credit-seekers to provide a down payment. However, a down payment affords you considerable advantages:

  • Shortens loan, meaning less paid in interest.
  • Lessens monthly payment.
  • Reduces negative equity.

With that said, we understand that down payments take a lot more effort and time given the current market conditions. Our approval platform can probably help you find a dealer, bank, or lender who’s willing to work with your down payment, or lack of one.

No Credit Check Car Dealers in Leesville

In Leesville, buy here pay here dealerships have grown by leaps and bounds, thanks to the downturn. These dealers work with people that wouldn’t be approved by a traditional lender due to poor credit. Everything is paid to the dealership, sometimes weekly, and the vehicles they sell are typically priced at less than $10,000.

We recommend that you avoid these dealerships and opt for a bad credit auto loan online. Apply now – no minimum credit score necessary.

Leesville Consumer Profile

Lenders are interested in more than just your FICO score. Lenders check your ability to pay (income), stability, and history of credit.

The following are average stats for Leesville residents.

  • Pre-Tax Income: $1,728 Monthly
  • Average Monthly Payment: $190 (11% of Income)
  • Ideal Car Payment: $138 to $173 (8%-10% of Income)

If you’ve got a bad credit score, you aren’t the only one. This table shows how many people in Leesville are in each credit level.

FICO Score % of Population Residents
300-499 2% 722
500-549 5% 1,806
550-599 8% 2,890
600-649 12% 4,335
650-699 15% 5,419
700-749 18% 6,502
750-799 27% 9,753
800-850 13% 4,696

As you can see, more than 25% of Leesville residents have credit scores of 649 or less, generally considered subprime. If your credit puts you in one of the lower tiers, fear not. We have lenders who serve each of these credit tiers.