Bad Credit Auto Loans in New Iberia (LA)

Forget driving from lender to lender, applying for financing. We can get you the approval you need in less time. We work with dealers and lenders in New Iberia and across Southern Louisiana who want to get you in a new vehicle – right now! This is how our system works:

  1. Take a couple of minutes to complete our credit application.
  2. Log in to your new account to check your application status.
  3. When approved, work with your finance specialist to finalize your paperwork.
  4. Go buy your vehicle from a dealer in the area.

You too can be one of the many New Iberia residents who can thank us for their new car!

Bad Credit Car Dealerships in New Iberia

A bad credit score is rarely a deal-breaker. There’s no minimum credit score to worry about, and we can help applicants who fall fall into any of the lower credit tiers.

Credit Tier FICO Range
3/C 581-659
4/D 520-580
5/F 250-519

Many lenders want people with below-average credit to provide a down payment. Fortunately, users are approved right away. Let us get you approved from a bad credit car dealer in New Iberia – online! Apply Now!

Car Loan Amounts for New Iberia Residents

Factors such as credit and income dictate how much you can finance. Below, we’ve listed how much people of differing credit ratings can finance, given an income of $1,937 monthly, the average in New Iberia. Please know that these are only estimates.

Credit Income Factor Loan
Excellent Credit 10 $19,370
Fair Credit 9 $17,433
Slow Credit 8 $15,496
Poor Credit 7 $13,559
Terrible Credit 6 $13,559

Keep in mind, these are just approximations. For a detailed quote, you must submit your application.

Can You Buy a Car with Zero Money Down?

Down payments refer to payments made the day you buy your new car or truck. They are often required of borrowers who have a disappointing history of debt payment. After all, consumers with problematic credit pose a greater risk to the lending company. Going into default is much more likely, and a down payment makes certain that some percentage of the loan has been secured. That’s not to say that dealers don’t ever approve people who don’t have a down payment.

Our approval platform will probably help you find a dealer, bank, or lending company who can work with your down payment, or lack thereof.

In House Financing Car Lots in New Iberia

Keep in mind that buy here pay here car lots consider down payments a requirement. These dealerships do on-the-lot financing, rather than working with off-site finance companies. Everything is paid to the dealership, often at the lot, and the vehicles they sell are usually $10,000 or less. Sadly, most of these dealers aren’t able to help people repair their credit. More often than not, you would be better off applying online, so we can find you a bad credit car dealer in New Iberia that offers lower rates and better terms.

New Iberia Consumer Profile

New-IberiaThe following are average statistics for residents of New Iberia.

  • Average Income: $23,242 Per Annum
  • Average Monthly Payment: $213 (11% of Income)
  • Suggested Car Payment: $155 to $194 (8%-10% of Income)

Here we have divided up New Iberia’s population by FICO score. These estimations should give you a general idea of where you stand in relation to other consumers in your area.

FICO Score % of Population Residents
300-499 2% 1,184
500-549 5% 2,959
550-599 8% 4,735
600-649 12% 7,102
650-699 15% 8,878
700-749 18% 10,654
750-799 27% 15,980
800-850 13% 7,694

Fortunately, we can help nearly any applicant who makes $1500 or more on a monthly basis, regardless of their credit score.