Bad Credit Auto Loans in Ruston (LA)

If you need a car loan, we can help. We have relationships with dealers and lenders in Ruston who want to get you behind the wheel of a new vehicle – right now! Here’s how it all works:

  1. Take a couple of minutes to fill out our online application.
  2. Check your email for your approval status.
  3. If your application has been placed, get in touch with your finance specialist to finalize your documentation.
  4. Go select your vehicle.

Sound simple? It is!

Bad Credit Car Dealerships in Ruston

Subprime credit is not an issue. We have dealers and lenders who accept low credit scores, and they are ready and willing to approve you for financing. Many lenders require borrowers with credit problems to provide a down payment, but most of our clients receive their approval nearly instantly. If you have less-than-perfect credit, you’ll typically be approved by a dealer or lender in Ruston that finances subprime credit. Typically, they submit payment data to the credit bureaus, which is crucial to reestablishing your credit.

The chart below shows you a wide array of loan amounts, derived from a monthly income of $710, the average in Ruston. These figures are just estimates. You may be eligible for a larger or smaller sum, depending on other factors. Talk to an auto finance agent for more information.

Credit History Income Factor Amount Borrowed
Good Credit 10 $7,100
Decent Credit 9 $6,390
Slow Credit 8 $5,680
Poor Credit 7 $4,970
Very Bad Credit 6 $4,970

To see your own loan amount, multiply how much money you get paid each month by the corresponding income factor.

Zero Down Auto Loans?

A number of our dealers work with people in Ruston who don’t have a down payment. However, a down payment is a good idea for a number of reasons: it reduces your payment amount, total interest, and problems with being underwater. An excellent down payment would be 20% for a new vehicle, and 10% for a used one.

That being said, we realize that down payments are harder to come by in this economic climate. Simply enter your down payment amount when you submit your application, and we will probably be able to help you find a lender or dealer who wants your business, regardless of whether or not you have a down payment.

In House Financing Car Dealers in Ruston

If you’ve got serious credit problems, then you most likely know about buy here pay here dealers. These dealers approve car loans in-house, rather than relying on banks or finance companies. The rates of interest are especially expensive, but approval is generally guaranteed.

Unfortunately, most of these dealers aren’t able to help people repair their credit. Often, you would be happier applying online, so we can find you a car loan in Ruston that can help you improve your credit.

Ruston-Specific Financial Profile

Though important, your credit score is just part of the equation. Lenders consider your income, history of employment and residence, and credit profile.

Here are some average stats for Ruston residents.

  • Pre-Tax Earnings: $710 Monthly
  • Average Monthly Payment: $78 (11% of Income)
  • Recommended Monthly Payment: $57 to $71 (8%-10% of Income)

Ruston Consumers by Credit Tier

Below-average credit is quite pervasive in Ruston and across the state of Louisiana. This chart depicts the estimated number of Ruston consumers at each credit level.

FICO Score % of Population Residents
300-499 2% 626
500-549 5% 1,565
550-599 8% 2,505
600-649 12% 3,757
650-699 15% 4,696
700-749 18% 5,635
750-799 27% 8,453
800-850 13% 4,070