Bad Credit Auto Loans in Metairie (LA)

Getting approved for a car loan in Metairie and Jefferson Parish can be stressful – we know that better than anyone. However, as trusted auto finance professionals with years of industry experience, we have expertise and experience to streamline the process for you. Each and every lender has their own approval standards, so it’s crucial to find one willing to approve your credit. Why waste your time trying to conduct this search on your own? When you submit your application, the finance companies with whom we have relationships compete for your business.

auto loanMetairie, like New Orleans, was hit hard by the recession, coming as did on the very heels of Hurricane Katrina. Whenever an area is wracked with economic struggles, there is a decrease in the average credit score among the residents. After all, financial troubles quickly translate into credit problems.

Fortunately, we are quickly becoming one of the leading providers of car loans for people with bad credit in Metairie and surrounding areas. The key to our success – and the success of our clients – is our integrated application placement platform. In layman’s terms, we’re able to match our clients with a lender or dealer based on a variety of application variables. This optimized placement takes the guesswork out of getting financed. Let us find you a dealership in Metairie that finances bad credit.

Auto Loan Amounts for Metairie Customers

Wondering how much you can borrow? It’s an easy estimate. Multiply your monthly income by the number (6-10) that corresponds to the state of your credit. We’ve included one such example, based on Metairie’s average per capita income: $1,440.

Credit Score Income Factor Amount Borrowed
Great Credit 10 $14,400
Fair Credit 9 $12,960
Slow Credit 8 $11,520
Bad Credit 7 $10,080
Terrible Credit 6 $10,080

To find out your own loan amount, multiply your pre-tax monthly income by the applicable income factor.

Down Payment: Do You Need One?

No down payment? More often than not, this won’t keep you from getting approved. However, supplying a down payment is a good idea because it decreases your payment amount, the amount of total interest, and problems with negative equity. Your ideal down payment would be 20% for a new vehicle, and 10% for a pre-owned one. That being said, you no longer need a down payment to submit an application. We help consumers get financed all the time, even with no credit or down payment. Apply now!

“Buy Here, Pay Here” Dealerships in Metairie

Ever seen car lots in Metairie advertising “buy here, pay here” or “no credit check” financing? Shoppers who cannot get approved for a loan because of major credit problems like bankruptcy often find themselves at dealers like these. Of course, the rates are high, but there are a lot fewer hurdles to approval. However, most in house financing car lots don’t help buyers rebuild their credit. Normally, you would be better off applying online, so we can find you a car loan in Metairie that has lower rates and better terms.

Metairie Consumer Profile

Listed here are average stats for residents of Metairie.

  • Gross Salary: $17,284 Annually
  • Average Monthly Payment: $158 (11% of Income)
  • Suggested Car Payment: $115 to $144 (8%-10% of Income)

Metairie’s Credit Spectrum

Have you ever wondered about the credit scores of your neighbors? We’ve calculated how many Metairie consumers are in each range of FICO scores.

FICO Score % of Population Residents
300-499 2% 2,892
500-549 5% 7,231
550-599 8% 11,570
600-649 12% 17,354
650-699 15% 21,693
700-749 18% 26,032
750-799 27% 39,047
800-850 13% 18,801

Not where you would like to be when it comes to credit? Don’t worry, we can help nearly any borrower who makes $1500 or more per month, regardless of their credit score. When you’re ready, we can help you find Metairie bad credit car loan you need. It’s easy to submit your application.