Auto Loans in Bel Air (MD)

Why waste your time driving from one lender to another, trying to get approved? Good credit or bad, we can get you the approval you need a lot sooner, with a lot fewer hassles along the way. Our system is fast, secure, and effective. Applicants who meet the minimum criteria have a 90% chance of approval. When you apply online, the dealers and lenders in our network compete against one another for your business. Enjoy the convenience of being led step-by-step through the process by a finance professional dedicated to getting you into the car of your dreams – or at least one that fits your needs!

Bad credit can be a result of many common challenges:  from mounting medical bills and missed credit card payments to bankruptcy and vehicle repossession. Just a single slip-up can make your score plummet by 100 points or more. We understand how easy it is to make such a mistake, and how difficult it can be to keep your finances in line. If you have a low credit score, not to worry. We help applicants with low credit scores each and every day.

The truth is, we have lenders and dealers in our network who specialize in bad credit car loans for Bel Air residents, as well as those of greater Harford County. If your credit is weak, your interest rate might be higher, so it’s important to finance an inexpensive car or truck with affordable payments. The most important thing is that you get all of your payments in on time. We can get you approved for financing from a bad credit car dealership in your area – and since we’re compensated by the dealers themselves, it’s free! Apply Online!

Estimating how much you can borrow is pretty easy. Simply multiply your monthly income by the income factor associated with your credit score. We’ve included an example, based on the average income of Bel Air residents: $5,298.

Credit Score Income Factor Amount Borrowed
Great Credit 10 $52,980
Decent Credit 9 $47,682
Temporary Bad Credit 8 $42,384
Poor Credit 7 $37,086
Horrible Credit 6 $31,788

As we stated previously, these are estimations. For an accurate quote, you must submit your application.

Do I Need a Down Payment?

Don’t have a down payment? Not a problem. That said, supplying a down payment gives you important benefits:

  • Shortens loan, meaning less paid in interest.
  • Lessens payment amount.
  • Reduces negative equity.

Keep in mind that your down payment doesn’t necessarily need to be made in cash. If you have a vehicle to trade in, and you probably do, there is a good chance that you get at least $1000 to $10,000 in trade allowance for it, depending on the model, age, mileage, and condition. You can get an estimate of what your vehicle is worth from Kelly Blue Book. Even so, you no longer need a down payment to submit an application. Submit your application. We’ll do our very best to connect you with a lender willing to finance your purchase, zero down payment necessary.

Bel Air (MD) “Buy Here Pay Here” Dealers

You’ve seen the signs This sort of financing is otherwise known as:

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

These dealerships finance people whose credit has been declined by other loan companies. Sure, the interest rates are higher than average, but there are few roadblocks to credit acceptance.

Bel Air Consumer Profile

Bel Air, located on US Route 1 just north of I-95, serves as the county seat of Harford County, though it encompasses only about three square miles. As towns in Maryland go, it is quite affluent, with an average per capita income in excess of $60,000. Lenders are concerned with much more than just your FICO rating. Lenders evaluate your ability to pay (income), stability, and history of repayment.

Listed below are some average stats for residents of Bel Air.

  • Gross Earnings: $5,298 Per Month
  • Average Car Payment: $583 (11% of Income)
  • Recommended Car Payment: $424 to $530 (8%-10% of Income)

If you have a low credit score, you aren’t alone. This table depicts the estimated number of Bel Air residents at each credit level.

FICO Score % of Population Residents
300-499 2% 1,135
500-549 5% 2,838
550-599 8% 4,541
600-649 12% 6,812
650-699 15% 8,515
700-749 18% 10,218
750-799 27% 15,327
800-850 13% 7,380