Auto Loans in Snellville (GA)

At Georgia Auto Finance, we take great pride in getting our clients approved for financing with no fees, no hassles, and no obligations. Our service is fast, safe, and effective. Users who meet the minimum criteria have a 90% chance of getting financed. When you apply online, your loan application will enter our cutting-edge placement platform. There we will match you to a finance company given your location, finances, credit profile, and more.

Bad Credit Car Dealers in Snellville

Poor credit is not a deal-breaker. There are several principal credit tiers in the auto finance industry, and we have companies that accept applicants in each of them. Yes, bad credit scores mean increased interest rates, but that’s to be expected. If you have poor credit, you’ll be matched with a lender or dealer in Snellville that finances bad credit. These types of lending companies do submit payment information to the credit reporting agencies. This is great when you need to improve your credit. Apply Online!

The amount you’ll be approved to borrow is based on your income and FICO score. Below, we’ve detailed how much people of various credit ratings can borrow, based on the average monthly income in Snellville, $5,354. Keep in mind, these are only estimations.

Credit Score Income Factor Amount Borrowed
Good Credit 10 $53,540
Fair Credit 9 $48,186
Subprime Credit 8 $42,832
Bad Credit 7 $37,478
Very Bad Credit 6 $32,124

Of course, these are merely approximations. For an accurate quote, please submit your application.

Down payments can be paid in cash or via trade-in, and typically cover anything from 5-20% of the vehicle’s price. They are normally required of borrowers who have a poor history of debt payment. At this stage, the Loan-to-Value ratio becomes one of the most important factors. Divide the the amount you want by the wholesale value of the vehicle. This is the LTV.

Amount Borrowed Vehicle Value LTV
$7500 $10,000 75%
$12,000 $15,000 80%
$15,000 $17,500 86%
$17,500 $22,000 79%

The lenders who finance people with credit problems generally prefer lower LTV’s, because these offer less risk. That’s not to say dealers don’t have financing options for people with no money down.

Submit your application, and indicate that you don’t have a down payment. We’ll connect you with a dealer or lender who can finance your purchase, zero down payment necessary.

Buy Here Pay Here Dealerships in Snellville

In Snellville, buy here pay here auto sales now constitute a sizeable portion of the market, largely due to the economic crisis. Consumers who have been unable to get approved for financing because of seriously bad credit often find themselves at these types of dealerships. The interest rates are always steep, but approval is generally guaranteed. We recommend that you avoid these kinds of car lots, instead securing a bad credit car loan we help you arrange. Apply now – it takes less than 3 minutes.

Car Loans at $428 Per Month

You should spend 8% or less of your monthly income on a car payment. In Snellville, the average income is $5,354, equating to a monthly payment of $428. Let’s explore what your budget would be with a payment of $428 per month, at various interest rates.

Exceptional Credit Fair Credit Poor Credit
Payment $428 $428 $428
APR 3.50% 7.00% 11.00%
Down Payment $5,886 $5,408 $4,925
Total Interest $2,154 $4,068 $5,999
Vehicle Price $29,431 $27,039 $24,625