Auto Loans in Hyattsville (MD)

We understand that financing a car can be stressful. That’s why we built our loan-matching technology. Our loan-finding platform takes the headache out of getting approved. When you apply online, the dealers and lenders in our network compete for your business.

Subprime financing is our principal focus. There are three subprime credit tiers:

  • Tier 3/C: 580-660
  • Tier 4/D: 520-580
  • Tier 5/F: 250-520

No matter which tier you are in, we have lenders who want your business. Sure, the APR on your loan won’t be as low as someone with a FICO score of 700 or higher, so it’s crucial that you finance a cost-effective car or truck with easily-affordable monthly payments. You’ll probably have your application placed with a bad credit car dealer or subprime auto lender. Both of these types of companies report your installments to the credit agencies, which is imperative when you need to improve your credit. Apply Now!

Loan providers calculate how much you qualify to borrow through two primary factors: your income and credit score. In the chart below, we’ve quoted loan amounts for people of a variety of credit scores, given the average monthly income in Hyattsville, $2,690. Remember, these are only estimates.

Credit Income Factor Sum
Great Credit 10 $26,900
Average Credit 9 $24,210
Subprime Credit 8 $21,520
Poor Credit 7 $18,830
Really Bad Credit 6 $18,830

Keep in mind, these are merely estimations. For a detailed quote, please submit your application.

Zero Down Payment?

Buyers with good credit can usually buy a car with no money down. But if your credit is a problem, your dealer may want you to furnish a down payment. Obviously, lending to customers with below-average credit is a much riskier process, and a down payment means that some percentage of the vehicle has been paid for in advance. That being said, we have car dealers that offer car loans with no down payment.

Submit your application. We will place your application with a lender willing to fund your loan, zero down payment necessary.

How About Buy Here Pay Here Financing?

Buy here pay here financing is often referred to as:

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

Dealers like these make credit decisions on the lot, rather than outsourcing this to banks or finance companies. Sure, the rates are high, but there aren’t many hurdles to getting approved.

Hyattsville-Specific Income, Credit Statistics

Lenders are concerned with a lot more than just your credit rating. Loan companies check your ability to pay (income), employment history, and individual credit history.

Listed here are average statistics for Hyattsville residents.

  • Average Earnings: $32,279 Annually
  • Average Monthly Payment: $296 (11% of Income)
  • Suggested Car Payment: $215 to $269 (8%-10% of Income)

Poor credit. It’s pretty common these days in Hyattsville and across Maryland. The table below shows the estimated number of Hyattsville residents at each credit level.

FICO Score % of Population Residents
300-499 2% 2,991
500-549 5% 7,477
550-599 8% 11,963
600-649 12% 17,945
650-699 15% 22,431
700-749 18% 26,917
750-799 27% 40,376
800-850 13% 19,440

Your credit score will have a significant impact on your APR. However, as long as you have sufficient income, we can typically find someone to finance you, even if you need a car loan in Hyattsville for bad credit.

Let us help you secure the good or bad credit auto loan in Hyattsville you need. It’s easy to apply online.