Auto Loans in Montgomery Village (MD)

Would you like to get pre-approved for financing? We can help. Our system is fast, safe, and effective. Applicants with sufficient income have a 90% chance of getting financed. When you apply online, the dealers and lenders in our network compete against each other for your business.

What About Subprime Credit?

Poor credit? Not to worry. We help you apply online and get pre-approved for an auto loan, even when your credit history is less than perfect. There are three subprime credit tiers:

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

Whatever your score, there are lenders that want to give you a second chance at financing. To be sure, your rate of interest would be lower if you had a credit score of 700 plus, but that’s no surprise. If you have below-average credit, you’ll typically be approved by a bad credit car dealer or subprime auto finance company. Typically, they submit payment information to the credit reporting agencies. This is a prerequisite for rebuilding your credit. Apply Now!

It’s easy to estimate the amount you can borrow. All you have to do is multiply your monthly income by the income factor associated with your credit score. We’ve included an example, based on Montgomery Village’s average per capita income, $5,122.

Credit Income Factor Amount
Excellent Credit 10 $51,220
Decent Credit 9 $46,098
Slow Credit 8 $40,976
Poor Credit 7 $35,854
Very Bad Credit 6 $35,854

Of course, the amounts listed above are estimates. For a detailed quote, please submit your application.

Can You Finance a Car with No Down Payment?

Down payments are payments made the day you buy your vehicle. They are typically required of borrowers who have a less than ideal history of debt payment. Obviously, loans to such consumers are much more risky for the finance company. Non-payment is more likely, and a down payment helps to ensure that some percentage of the vehicle’s value is not on the line. That’s not to say that dealers don’t have financing options for people who don’t have a down payment.

Apply online. We’ll work hard to place your application with a lender willing to provide you with a loan, zero down payment needed.

How About In-House 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

These dealers make credit decisions on the lot, instead of relying on banks or finance companies. They approve people with problems like bankruptcy, foreclosure, or repossession in the last 12 months.

Montgomery Village Consumer Profile

Though important, your FICO score is just part of the equation. Lenders check your ability to pay (income), employment history, and debt repayment history.

Listed here are average stats for residents of Montgomery Village.

  • Pre-Tax Earnings: $5,122 Monthly
  • Average Car Payment: $563 (11% of Income)
  • Suggested Car Payment: $410 to $512 (8%-10% of Income)

Have you ever wondered about the credit ratings of your neighbors? We’ve calculated how many Montgomery Village consumers fall into each credit tier.

FICO Score % of Population Residents
300-499 2% 1,700
500-549 5% 4,250
550-599 8% 6,799
600-649 12% 10,199
650-699 15% 12,749
700-749 18% 15,298
750-799 27% 22,947
800-850 13% 11,049