Bad Credit Auto Loans in Mandeville (LA)

From credit ratings to down payments, getting a car financed can be a confusing process, but we’re here to guide you each step of the way. More and more dealerships, banks, and other lenders have entire departments devoted to online applications, and we can help you line up your financing straight from your computer. Apply online, and we’ll match you with a lender given your location, budget, credit profile, and other factors.

Bad Credit Car Dealerships in Mandeville

Our application process is ideally-suited to people with credit problems. There are several main credit tiers in the auto finance industry, and we have companies that accept applicants in each of them. Sure, your APR won’t be as low as someone with a FICO score of 700 plus, so it’s imperative that you finance an inexpensive vehicle with low monthly payments. If you have bad credit, you’ll typically be approved by a bad credit dealership or subprime auto finance company. Companies like these will report your payments to the credit agencies. This is great if you want to improve your credit. There are no obligations for using our service, and no headaches. Simply submit your online credit application.

Loan creditors work out how much you qualify to borrow through two primary factors: your income and credit score. In the table below, we’ve detailed loan amounts for people of various credit tiers, given the average monthly income in Mandeville, $3,820. Don’t forget, these are only estimations.

Credit Income Factor Loan Amount
Good Credit 10 $38,200
Average Credit 9 $34,380
Slow Credit 8 $30,560
Bad Credit 7 $26,740
Very Bad Credit 6 $26,740

Simply because you can borrow such an amount, doesn’t mean it’s a good idea. A smaller loan is advised, because you will pay less interest, and your payment amount will be reduced.

Mandeville Car Loans, No Down Payment?

We do have lenders in our network who offer car loans with no down payment, even for people with bad credit. However, a down payment is a smart choice for a number of reasons: it reduces your payment, the amount of interest paid, and problems with being underwater. The best down payment is 20% for a new vehicle, and 10% for a pre-owned one. That said, most of our lenders and dealers realize that down payments take a lot more effort and time in today’s market conditions. Submit your application, and indicate zero down payment in the appropriate section. We will match you with a dealer or lender willing to give you the loan you need, zero down payment needed.

Buy Here Pay Here Car Dealers in Mandeville

If you have a very low credit score, then you probably know about buy here pay here sales. Customers who cannot secure a loan due to major credit problems like bankruptcy often end up at dealerships like these. The rates of interest are especially high, but acceptance often is guaranteed.

Unfortunately, most buy here pay here dealerships don’t help buyers rebuild their credit. More often than not, it’s better to apply online through our website, so we can find you a car loan in Mandeville with lower rates and better terms.

Mandeville Consumer Profile

The following are average statistics for residents of Mandeville.

  • Average Income: $45,841 Per Annum
  • Average Car Payment: $420 (11% of Income)
  • Recommended Car Payment: $306 to $382 (8%-10% of Income)

Mandeville Population by Credit Score

Poor credit is quite pervasive nowadays in Mandeville and across the state of Louisiana. This chart shows the estimated number of Mandeville residents at each level of the credit spectrum.

FICO Score % of Population Residents
300-499 2% 799
500-549 5% 1,996
550-599 8% 3,194
600-649 12% 4,791
650-699 15% 5,989
700-749 18% 7,187
750-799 27% 10,780
800-850 13% 5,190

Not where you would like to be when it comes to credit? Don’t worry, we can help nearly any consumer who has an income of $1500 per month or more, no matter what their credit score is.