We know that financing a car can be stressful, and we’re here to help. A growing number of dealerships, banks, and other lenders now have whole departments devoted to online approvals, and we can get you approved straight from your own home or office. The application itself is a breeze, and many shoppers get a loan the same day.
Subprime financing is one of our areas of expertise. We have dealers and lenders who accept subprime credit, and they are hoping to fund your loan. Yes, low credit scores mean more costly interest rates, but that’s no surprise. Let us get you approved from a bad credit car dealership in Fort Washington – today!
The maximum size of your loan is primarily determined by your income and history of credit. Below, we’ve quoted the maximum loan amount for people of several different credit tiers, based on the average monthly income in Fort Washington, $2,081. Please be aware that these are only estimates.
|Credit History||Income Factor||Amount Borrowed|
|Really Bad Credit||6||$14,567|
Simply because you’re able to borrow this amount, doesn’t mean it’s a good idea. A smaller loan is a wise idea, because it will lead to less financial pressure.
How Much Will I Have to Put Down?
We can assist you in finding dealers who fund loans for people with no down payment. However, a down payment is a smart choice for a number of reasons: it decreases your payment, total interest, and risk of negative equity. Listed below are the ideal down payments for new and pre-owned vehicles.
- Pre-Owned Vehicle: 10%
- New Vehicle: 20%
Even so, you no longer need a down payment to apply. We get clients financed each and every day, even with no money down. Apply now!
Fort Washington Buy Here Pay Here Car Lots
This sort of financing is sometimes known as:
- We Finance
- Rent to Own
- We Tote The Note
- Your Job is Your Credit
Dealers like these approve people for financing on site, instead of relying on banks or lenders. Everything is paid to the dealership, sometimes weekly, and the vehicles they sell are usually $10,000 or less.
Fort Washington-Specific Credit, Income Numbers
Dealers and lending companies are interested in more than just your FICO rating. Loan companies review the following:
- Debt to Income Ratio
- Credit History
The following are average statistics for residents of Fort Washington.
- Average Salary: $24,977 Annually
- Average Monthly Payment: $229 (11% of Income)
- Suggested Car Payment: $166 to $208 (8%-10% of Income)
Subprime credit is quite common these days in Fort Washington and across Maryland. The table below shows the estimated number of Fort Washington residents at each credit tier.
|FICO Score||% of Population||Residents|
The good news is, we can help nearly any applicant who has an income of $1500 per month or higher, regardless of their credit score.
Whenever you are ready, we can help you find bad credit auto loan in Fort Washington you need. Click here to submit your application.