You need to get approved for financing, and we can help. We have relationships with lenders and dealers in Atlanta who want to fund your loan – this week! Here’s how the process works:
- Apply online.
- Check your inbox for your approval status.
- If approved, speak with your lender or dealer to complete your paperwork.
- Go purchase your vehicle.
Sound simple? It honestly is! You could be driving your new vehicle in as little as 24 hours. There is no better way to secure an auto loan in Atlanta, period. Apply today!
Financing a Car with Bad Credit
Bad credit is prevalent these days in Georgia, and Atlanta consumers aren’t immune. Fortunately, a large percentage of the clients we serve have subprime or “bad” credit. Such consumers aren’t typically served by the large banks and credit unions. Rather, they must rely on subprime auto lenders, as well as the dealer finance specialists who arrange such financing. This is where we come in. You can apply online, and we’ll match you to a dealership that will get you the bad credit car loan in Atlanta you need.
Given your credit, it is important to keep your car payment in check – you don’t want to spend more than 1/10th of your monthly income on this. If you do, you’ll be at an elevated risk of default, which will only drop your score even lower. It’s best to opt for an affordable, practical car or truck that you can pay off in 36-60 months.
How About Buy Here Pay Here Financing?
In Atlanta, BHPH or “in-house” financing is otherwise known as:
- Your Job is Your Credit
- We Tote The Note
- Rent to Own
- We Finance
These dealers work with consumers who can’t get approved anywhere else due to bad credit. Of course, the rates are higher, but there are a lot fewer hurdles to approval.
Down Payment: Do You Need One?
No down payment? Often, this won’t be a dealer-breaker. However, supplying a down payment is a good idea for a number of reasons: it decreases your monthly payment, interest paid, and risk of being upside down. An excellent down payment would be 20% for a new vehicle, and 10% for a pre-owned one. With that said, you no longer need a down payment to get pre-approved. Our approval platform can find you a dealer or lender who wants to get you in the driver’s seat, whether you have a down payment or not.
Credit and Income: Atlanta
There’s more to the approval process than just your credit score. Creditors consider your ability to pay (income), employment history, and history of repayment.
Here are some average stats for Atlanta residents.
- Gross Income: $1,411 Monthly
- Average Car Payment: $155 (11% of Income)
- Ideal Car Payment: $113 to $141 (8%-10% of Income)
If you have a low credit score, you’re not alone. This chart shows the estimated number of Atlanta residents at each credit level.
|FICO Score||% of Population||Residents|