Bad Credit Auto Loans in Opelousas (LA)

You need to get approved for financing, and we can help. Our vast network of Louisiana lenders and dealers is standing by, waiting for your application. The actual application is entirely web-based, and many borrowers get a loan right away.

Bad credit can be a real setback when it comes to financing, but not with us. There are six primary credit tiers in the auto finance industry, and we have lenders that accept applicants in each of them. Yes, your rate of interest won’t be as low as someone with a credit score of 700 or higher, but that’s just how the financing industry works. Don’t delay. Let us find you a lender or dealership that funds loans for people in Opelousas with bad credit. There are no obligations when you use our service, and no hassles. Just apply online, and we’ll get to work finding you a bad credit auto loan in Opelousas that will get you in the driver’s seat.

The chart that follows shows how much you can borrow, given a monthly income of $874, the average in Opelousas. These numbers are simply approximations. You may be entitled to a different amount. Talk to a vehicle finance specialist for additional information.

Credit Income Factor Amount Borrowed
Good Credit 10 $8,740
Fair Credit 9 $7,866
Subprime Credit 8 $6,992
Bad Credit 7 $6,118
Really Bad Credit 6 $6,118

Simply because you’re able to borrow a particular amount, doesn’t mean you should. A smaller loan is a good option, because it will translate into less financial pressure.

Financing a Car with No Money Down

Down payments can be made in cash or via trade-in, and typically cover anything from 5-20% of the vehicle’s sticker price. They are normally required of consumers with a less than ideal history of debt repayment. This is because loans to such consumers represent more risk to the finance company. Failure to pay is more of an issue, and a down payment means that some percentage of the vehicle’s value is not at stake. The good news is, as the auto market rebounds, more and more lenders and dealers should be able to approve auto loans with zero down.

We get clients into a new car each and every day, despite issues with their credit and down payment. Apply now!

Opelousas Buy Here Pay Here Financing

Buy here pay here dealers in Opelousas have been increasing by leaps and bounds, largely due to the economic climate. Customers who cannot get approved for a loan because of major credit problems like bankruptcy often resort to these types of car lots. Everything is paid to the dealer directly, and the cars and trucks for sale are typically less than $10,000.

However, most of these dealers can’t help buyers improve their credit. More often than not, you would be happier applying online through us, so we can find you a car loan in Opelousas that can help improve your credit.

Opelousas Consumer Profile

Listed here are average stats for Opelousas residents.

  • Gross Earnings: $10,488 Per Annum
  • Average Monthly Payment: $96 (11% of Income)
  • Ideal Car Payment: $70 to $87 (8%-10% of Income)

Poor credit is fairly pervasive in Opelousas and across the state of Louisiana. The table below shows the estimated number of Opelousas consumers at each credit level.

FICO Score % of Population Residents
300-499 2% 867
500-549 5% 2,167
550-599 8% 3,467
600-649 12% 5,200
650-699 15% 6,500
700-749 18% 7,800
750-799 27% 11,701
800-850 13% 5,634

Why not submit your application for an auto loan in Opelousas? It’s easy to submit your application.