Auto Loans in Carrollton (GA)

Income, credit, down payment – financing a car can be a bewildering process, but we’ll help you from application to approval. The benefits of our platform are significant:

  • Comprehensive Lender Network
  • Easy Application
  • No Fees, Zero Obligations
  • No Down Payment Required
  • All Credit Tiers Accepted
  • 1-Hour Financing for Qualified Applicants
  • Approval Status Tracked Online

When you apply online, we will find you a lending company based on where you live, your finances, your down payment, and other factors.

Credit Scores Classified as Subprime

Less-than-perfect credit? Not to worry. We enable you to find the loan you need, even when your history of credit is problematic. We have lenders and dealers who work with subprime credit scores, and they would love to fund your loan. As you know, bad credit scores mean increased rates of interest, but that’s no surprise. And, as you may know, making regular payments on an auto loan is a good way to improve your credit scores. So let us find you a dealer that finances bad credit.

How Much Am I Eligible to Borrow?

The chart below depicts an array of loan amounts, based on a monthly income of $1,307, the average in Carrollton. These numbers are merely estimations. You may be eligible for more or less, depending on other factors. Talk with an auto finance specialist to find out more.

Credit Rating Income Factor Amount
Excellent Credit 10 $13,070
Fair Credit 9 $11,763
Slow Credit 8 $10,456
Poor Credit 7 $9,149
Terrible Credit 6 $7,842

Of course, these are just estimates. For a precise quote, please submit your application.

Down Payment: Do You Need One?

A number of our dealers fund loans for people in Carrollton with no down payment. Having said that, supplying a down payment affords you important advantages:

  • Reduces the length of the loan, meaning less paid in interest.
  • Lowers monthly payment.
  • Protects you against negative equity.

Even so, we understand that down payments are harder to come by given the current market conditions.

Auto Loans in Carrollton for First-Time Buyers

Getting a car financed is a good way to build credit, but it’s a challenge to get a car loan without any credit. Fortunately, a number of lenders tend to be more worried about whether you can pay. If you can demonstrate a weekly income of $375, then you can probably get approved, albeit at an elevated rate of interest. Otherwise, you can find a parent or relative to be the cosigner for your loan.

In House Financing Car Dealers in Carrollton

Most buy here pay here dealerships consider down payments obligatory. Dealers like these make credit decisions on site, instead of relying on a list of affiliated lenders. Everything is paid to the dealership, often in person, and the vehicles they sell are normally less than $10,000. Having said that, most buy here pay here car lots can’t help consumers improve their credit. Often, you would be happier applying online, so we can find you an auto loan in Carrollton that can help you improve your credit.

How Much Car You Can Afford at $105 Per Month

Let’s say you make $1,307 a month–the Carrollton average–and spend 8% of this making your monthly payment. Here is how much car you could purchase with this monthly payment, at various rates of interest.

Excellent Credit Average Credit Poor Credit
Monthly Income $1,307 $1,307 $1,307
Payment Amount $105 $105 $105
Loan Rate 3.50% 7.00% 11.00%
Repayment Years 5 5 5
Money Down $1,437 $1,320 $1,202
Borrowed Funds $5,748 $5,280 $4,809
Interest Paid $526 $993 $1,465
Total Amount Paid $7,711 $7,594 $7,476
Purchase Price $7,185 $6,601 $6,011