Auto Loans in Gainesville (GA)

Trying to find the best car loan in Gainesville? Great, we’re here to help. Each lender has their own approval requirements, so it’s important to find one that matches your needs. Here’s how the process works:

  1. Apply online.
  2. Check your inbox for your approval status.
  3. If approved, get in touch with your dealer or lender to complete your documentation.
  4. Go select your vehicle from a nearby dealer.

Sound simple? It truly is!

Credit Scores of 620 or Less

Low credit score? Don’t worry. We enable you to find a lender that suits your needs, even if your history of credit is sub-standard. A lot of larger lenders and dealers now have whole sales teams specializing in something known as “special financing.” These are referred to as bad credit dealerships. Naturally, we have a great many of them in our network. Plus, a paid-as-agreed car loan can help improve your credit ratings. So let us find you a lender or dealer in Gainesville that approves loans for people with credit problems – online!

Apply now!

Zero Down Payment Deals?

Buyers with good credit can usually finance a car with no money down. Buyers with below-average credit, on the other hand, may need to offer up 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 vehicle. This is the LTV.

Amount Borrowed Vehicle Value Loan-to-Value
$12,000 $15,000 80%
$15,000 $20,000 75%
$17,500 $22,000 79%
$20,000 $25,000 80%

Most lenders and dealers who work with bad credit prefer LTV ratios of less than 100%. Because the lender doesn’t have as much tied up in the vehicle, they are in a stronger position to recover their losses if borrower defaults – a legitimate risk when financing subprime borrowers. Don’t have a down payment? Don’t worry. We get many applicants the loan they need, despite their lack of down payment.

Just indicate your down payment amount on your application, and our system will find you a dealer or lender who can work with your down payment, or lack of one.

How About In-House Financing?

In House financing is sometimes known as:

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

Consumers who cannot get approved for financing because of serious credit problems often find themselves at these types of dealerships. Of course, the rates are high, but there are fewer obstacles to credit acceptance.

Credit and Income: Gainesville

Your FICO score is just part of the picture. Loan companies look at your income, stability, and history of repayment.

Here are average stats for residents of Gainesville.

  • Average Income: $2,878 Per Month
  • Average Car Payment: $317 (11% of Income)
  • Suggested Car Payment: $230 to $288 (8%-10% of Income)

If you have bad credit, you aren’t the only one. This chart shows how many people in Gainesville are in each credit tier.

FICO Score % of Population Residents
300-499 2% 1,944
500-549 5% 4,860
550-599 8% 7,776
600-649 12% 11,664
650-699 15% 14,581
700-749 18% 17,497
750-799 27% 26,245
800-850 13% 12,637

Ready to get approved? Click here to submit your application.