Bad Credit Auto Loans in Alexandria (VA)

We understand that auto financing can be a hassle, and we’re here to help. Our system is fast, secure, and effective. Applicants with sufficient income have a 90% chance of being approved. The actual application takes under three minutes to submit, and it requires fewer details than our competitors.

What About Subprime Credit?

Problematic credit can be a challenge when trying to finance a new vehicle, but not with us. We have dealers and lenders who accept low credit, and they are hoping to grant you your Alexandria auto loan. If your credit is weak, your interest rate might be higher, but we can typically get you in the driver’s seat of a new car. Plus, a paid-off car loan will help boost your credit rating. So let us find you a dealership who funds loans for people in Alexandria with subprime credit – online! Apply Online!

The table below shows how much you can borrow, based on a monthly income of $3,631, the average in Alexandria. These amounts are only estimations. You may qualify for more or less, depending on other factors. Speak with your vehicle finance specialist for more information.

Credit History Income Factor Amount Borrowed
Good Credit 10 $36,310
Decent Credit 9 $32,679
Slow Credit 8 $29,048
Bad Credit 7 $25,417
Terrible Credit 6 $25,417

To figure out how much you can borrow, multiply how much money you make each month by the applicable income factor.

No Money Down Auto Loans in Alexandria?

A number of our dealers approve people with no money down. However, a down payment is a smart choice for a number of reasons: it minimizes your payment amount, total interest, and problems with negative equity. The best down payment would be 20% for a new vehicle, and 10% for a pre-owned one. Still, you don’t need a down payment to get pre-approved. We help consumers get into a new car all the time, despite issues with their credit and down payment.

If you are thinking of working with a buy here pay here car lot in Alexandria, due to a really low credit score, keep in mind that they will most likely require you to provide a hefty down payment. Consumers who have been unable to get approved for financing because of seriously bad credit often turn to dealers like these. Payments are made to the dealer, often at the lot, and the cars and trucks for sale are typically $10,000 or less.

Alexandria Consumer Profile

Dealers and lenders are interested in much more than just your credit rating. Loan companies look at your income, employment history, and credit profile.

Here are average statistics for Alexandria residents.

  • Gross Income: $3,631 Per Month
  • Average Car Payment: $399 (11% of Income)
  • Recommended Monthly Payment: $290 to $363 (8%-10% of Income)

Below-average credit is quite pervasive these days in Alexandria and across Virginia. The chart below depicts the estimated number of Alexandria residents at each credit level.

FICO Score % of Population Residents
300-499 2% 5,869
500-549 5% 14,673
550-599 8% 23,477
600-649 12% 35,215
650-699 15% 44,019
700-749 18% 52,823
750-799 27% 79,235
800-850 13% 38,150

In case you’re ready, we can help you get the good or bad credit auto loan in Alexandria you need. It’s easy to apply online.