Auto Loans in Dundalk (MD)

Need a car loan? We can help. We have relationships with lenders and dealers in Dundalk who want to approve your credit – this week! When you apply online, your online application will enter our placement system. There we will find you a car loan that’s right for you.

What About Credit Problems?

Special Finance is our specialty. Many major lenders and dealers now have whole departments committed to “special financing.” These are often called Dundalk bad credit dealerships. Needless to say, we have quite a lot of them in our network. Many loan providers want individuals with below-average credit to have an income of at least $1500 monthly; however, most users receive their approval within minutes. If you have poor credit, you’ll probably be matched with a bad credit dealership or auto finance company. In most cases, they do submit information to the credit bureaus, which is crucial to rebuilding your credit.

Car Loan Pre-Approval: How Much?

The table that follows depicts an array of loan amounts, based on a monthly income of $3,322, the average in Dundalk. These amounts are just estimations. You may be eligible for a different amount. Speak with your vehicle finance specialist for more information.

Credit History Income Factor Loan
Good Credit 10 $33,220
Average Credit 9 $29,898
Subprime Credit 8 $26,576
Bad Credit 7 $23,254
Horrible Credit 6 $23,254

Simply because it’s possible to borrow such an amount, doesn’t mean it’s a good idea. A smaller loan is recommended, because it will lower the risk of getting slow pay notices on your credit report.

Do I Need a Down Payment?

Don’t have a down payment? No problem. Having said that, supplying a down payment affords you important benefits:

  • Shortens loan, meaning you pay less in interest.
  • Reduces monthly repayment.
  • Reduces negative equity.

That being said, you no longer need a down payment to apply. Our approval platform can probably find you a lender or dealer who wants to get you in the driver’s seat, whether you have a down payment or not.

Dundalk Buy Here Pay Here Financing

Buy here pay here financing is also referred to as:

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

These dealerships specialize in helping consumers that have been turned down by conventional finance companies. The rates of interest are especially high, but they typically offer guaranteed approval.

Dundalk Consumer Profile

There is more to auto financing than just your FICO score. Lenders look at your income, employment history, and individual credit history.

Below are some average stats for residents of Dundalk.

  • Gross Earnings: $3,322 Monthly
  • Average Monthly Payment: $365 (11% of Income)
  • Ideal Car Payment: $266 to $332 (8%-10% of Income)

If you have less-than-perfect credit, you aren’t the only one. This table depicts how many people in Dundalk are in each credit level.

FICO Score % of Population Residents
300-499 2% 1,098
500-549 5% 2,746
550-599 8% 4,394
600-649 12% 6,591
650-699 15% 8,238
700-749 18% 9,886
750-799 27% 14,829
800-850 13% 7,140