Auto Loans in Canton (GA)

If you need to finance a car, we can help. Our application placement platform takes the legwork out of getting approved. Apply online, and the dealers and lenders in our network compete to fund your loan.

Our services are uniquely-suited to consumers with low credit scores. There are six primary credit tiers in the auto finance industry, and we have lenders that service each of them. A down payment, as well as income verification is often considered necessary for any bad credit car loan in Canton; however, most applicants are approved right away. Let us get you approved for financing by a bad credit car dealership in Canton – today!

Loan companies decide how much to lend you through two key variables: your income and credit score. This table displays how much consumers of different credit scores can finance, given the average monthly income in Canton, $3,081. Please know that these are only estimations.

Credit Income Factor Amount
Great Credit 10 $30,810
Average Credit 9 $27,729
Subprime Credit 8 $24,648
Poor Credit 7 $21,567
Horrible Credit 6 $18,486

To work out your own loan amount, multiply your monthly income by the most suitable income factor.

Zero Down Payment Deals?

Buyers with good credit can usually buy a car without a down payment. But if your credit is less than perfect, your dealer may require you to provide a down payment. When dealing with subprime credit, lenders are focused on the Loan-to-Value Ratio, or LTV. Divide the the amount you want by the wholesale value of the car or truck. This is the LTV.

Amount Borrowed Vehicle Value Loan-to-Value
$12,000 $15,000 80%
$15,000 $17,500 86%

Bad credit car dealers in Canton and across the state try to keep the LTV relatively low, typically staying in the range of approximately 70%. With that being said, we get quite a few loan-seekers financed anyway.

We get people into a new car everyday, even with issues such as lack of credit or down payment. Apply today!

Canton Buy Here Pay Here Car Lots

This sort of financing is also known as:

  • Your Job is Your Credit
  • Tote The Note
  • Rent to Own
  • We Finance

These dealerships specialize in helping people that have been turned down by conventional lending institutions. Payments are made to the dealership directly, and the cars and trucks for sale are normally less than $10,000. We recommend that you eschew buy here pay here dealers and opt for a car loan from a bad credit car dealership in Canton that can help you rebuild your credit. Apply today – it takes less than 3 minutes.

Car Budgeting for Canton Drivers

It’s advisable to spend 8% or less of your monthly income on a car payment. In Canton, where the average income is $3,081, this would be $246. Below is how much car you could afford with this monthly payment, at several credit tiers.

Great Credit Okay Credit Subprime Credit
Monthly Payment $246 $246 $246
Interest Rate 3.50% 7.00% 11.00%
Months 60 60 60
Down Payment $3,387 $3,112 $2,834
Total Interest $1,240 $2,341 $3,452
Total Paid $18,176 $17,901 $17,623
Car Price $16,936 $15,560 $14,170