Auto Loans in Cartersville (GA)

Here at Georgia Auto Finance, we’re revolutionizing the approval process. A growing number of lenders and dealers have entire departments committed to online approvals, and we can get you approved straight from your computer. Just apply online, and we’ll begin working to get you the auto loan you need.

Cartersville Bad Credit Car Dealers

Low credit score? Not to worry. We help low credit scores get approved – that’s our mission.

In fact, we have lenders and dealers in our network who service each different credit tier. As you know, poor credit scores mean higher interest rates, meaning it’s crucial that you finance a budget friendly car or truck with easily-affordable payments. Allow us to find you a dealership who funds auto loans for people with subprime credit. Apply Now!

It’s easy to estimate the amount you can borrow. All you have to do is multiply your monthly income by the income factor that corresponds to the state of your credit. We’ve included a sample, based on the average income of Cartersville residents: $3,737.

Credit Income Factor Amount Borrowed
Excellent Credit 10 $37,370
Fair Credit 9 $33,633
Slow Credit 8 $29,896
Poor Credit 7 $26,159
Really Bad Credit 6 $22,422

Just because you’re able to borrow such an amount, doesn’t mean you ought to. A smaller loan is a good idea, because you’ll be able to pay it off more quickly.

Getting Approved with No Down Payment

Down payments can be made in cash or via trade-in, and typically are priced between 5-20% of the vehicle’s sticker price. They are sometimes required of borrowers with a less than ideal history of debt payment. When dealing with subprime credit, lenders are interested in the Loan-to-Value Ratio, or LTV. This is the amount borrowed versus the wholesale value of the vehicle.

Loan Amount Vehicle Value Loan-to-Value
$7500 $10,000 75%
$10,000 $15,000 67%
$12,000 $15,000 80%
$15,000 $17,500 86%
$20,000 $30,000 67%

Most subprime lenders prefer lower LTV ratios. Because the lender doesn’t have as much invested in the vehicle, they are in a stronger position to recoup their losses if the vehicle has to be repossessed – a serious risk when financing people with non-ideal credit. The good thing is, as the auto sector recovers, more and more lenders and dealers will be approving auto loans with zero down.

Apply online. We’ll strive to place your application with a lender willing to finance your purchase, no down payment necessary.

Cartersville Buy Here Pay Here Car Lots

Buy here pay here financing is often referred to as:

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

These dealerships specialize in helping people whose credit has been declined by other creditors. Of course, the rates are inflated, but there are a lot fewer roadblocks to getting approved. Having said that, most in house financing dealerships cannot help buyers re-establish their credit. More often than not, it is best to apply online through us, so we can find you an auto loan in Cartersville that has lower rates and better terms.

Cartersville-Specific Income, Credit Statistics

Truth be told, there is more to the approval process than just your FICO score. Creditors look at your income, history of employment and residence, and credit profile.

Listed here are average statistics for Cartersville residents.

  • Pre-Tax Salary: $3,737 Per Month
  • Average Car Payment: $411 (11% of Income)
  • Recommended Car Payment: $299 to $374 (8%-10% of Income)

Cartersville Population by Credit Score

Bad credit. It’s quite pervasive in Cartersville and across Georgia. The table below shows the estimated number of Cartersville consumers at each credit tier.

Credit Score % of Populace Consumers
300-499 2% 907
500-549 5% 2267
550-599 8% 3627
600-649 12% 5440
650-699 15% 6800
700-749 18% 8160
750-799 27% 12241
800-850 13% 5894

Your FICO score will have a significant effect on your APR. However, provided that you have sufficient income, we can ordinarily find a lender for you, even if you need an auto loan in Cartersville with bad credit.

Ready to submit your application for a car loan in Cartersville? Go here to submit your application.